Fabian Demicoli

GRTU welcomes the announcement of the extension of the JEREMIE Fund Agreement


It is very good news for GRTU and its
members that the JEREMIE scheme has been extended and will now translate in €10
million for around 100 SMEs. Through the consultation process carried out
between August and September by GRTU on the next funding period, members
emphasized that a mix of grants and financial engineering instruments,
including loans at advantageous conditions, would be beneficial for their
investment needs.

Those that in the last years have
succeeded to benefit from the JEREMIE scheme have in fact reported very
positive experiences linked also to the advantageous conditions of the scheme
and its less rigid nature. It has been reported that by the end of June 2013,
533 Maltese SMEs had benefitted from the JEREMIE loan facility.

The European Investment Bank had a
lot of praise for Malta on the success it achieved in the administration of
JEREMIE. It is calculated that the scheme has so far given rise to an
investment within the economy of €83.5million, from the initial investment of
€10million from ERDF and national funds.

GRTU is informed that the scheme will
continue to run in same way and will also be offered by BOV that has once again
been confirmed as the local partner following the usual call for interest. The
new monetary injection has been topped up to the current allocation and
interested enterprises can start enquiring and proposing investment projects
with immediate effect. Interested enterprises can call BOV JEREMIE section on
22753303 or 22755779.

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