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Grant Scheme for Sustainable Tourism
12 October 2009
As part of the EU Structural Funds 2007-2013 for Malta, the European Regional Development Fund has financed a grant of €10 million towards the Grant Scheme for Sustainable Projects by Enterprises.
The scheme directs funding towards achieving Sustainable Tourism Development. Tourism development is sustainable through the principles of: Environment Sustainability, which ensures that development is compatible with and respects biological diversity and natural resources; Social and Cultural Sustainability which ensures contribution towards the development and protection of the cultural identity; and Economic Sustainability that ensures the development of the society in conditions of adequate management of resources by obtaining economic benefits today, as well as in the future.
The scheme has five intervention areas where applicants are able to direct their projects for funding:
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product upgrade and investment in equipment,
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investment in environmentally friendly measures,
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investment in ICT,
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investment in entrepreneurship and
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investment in marketing.
The aim behind the project proposed for funding should be that of enhancing the competitiveness of both the tourism industry in Malta as well as the competitiveness of the enterprise.
The scheme aims at financially helping holistic projects to develop their project and contributing towards achieving a sustainable tourism industry in Malta. For this purpose, the scheme will help enterprises by giving them 50%, 40% or 30% of the project submitted for funding, depending on whether the entity is small, medium, or large. The smaller the size of the entity, the greater the proportion of the subsidy.
The second call has opened on Thursday 1st October 2009 and applications will be accepted until Monday 30th November, 2009 at noon. All entities engaged in economic activity and wish to propose a tourism related project, are encouraged to apply.
For more information, kindly contact Abigail Mamo @ GRTU. Source: Funding 4 yEU-MEUSAC
