16 April 2020 – Subsidised interest rates scheme on business loans

Type of Intervention: Financial and Economic
Sectors Involved: Finance/Economy
Level of Jurisdiction: National
Lead People/Agency: Government of Malta

Overview: Businesses and self-employed works hit hard by the coronavirus pandemic are being offered a subsidy of up to 2.5 per cent on the interest rate charged by banks, should they decided to take a loan to cover expenses. Under this scheme, which is estimated to cost €20 million per year, applicants would benefit from a subsidised interest rate for the first two-years of the loan. The bank’s normal loan eligibility criteria still apply.
Full details here: https://timesofmalta.com/articles/view/subsidized-interest-rates-scheme-on-business-loans-rolled-out.786008

Type of Justification: No justification given