Following “unprecedented” challenges being faced by the global economy as a result of COVID-19 and “more recent political turmoil unfolding between Ukraine and Russia”, Economy Minister Silvio Schembri said the European Commission’s InvestEU programme “is an important instrument to help in Europe’s economic recovery”.
Addressing the European Commission and the European Investment Bank (EIB) InvestEU Roadshow, which seeks to inform member states about the new InvestEU programmes, Minister Schembri said that the funding – aimed towards small and medium-sized businesses – is meant to build upon the success of JEREMIE and other SME structural fund instruments, which facilitate access for SMEs.
“We have strived to bolster financing of projects which deal in sustainable energy, launched numerous initiatives and provided tangible aid which encourages connectivity, the digitisation of industry, and laid the groundwork for AI and Blockchain, and emergent technologies. As a government, we have not only sought to instil peace of mind within our business community during such adverse circumstances, but have worked and planned for a strong and rapid recovery,” he added.
Minister Schembri urged businesses to continue to utilise such funds for further resilience and to build solid foundations for future investments.
EIB Vice President Gelsomina Vigliotti also spoke, commenting that:
“We are delighted to launch the InvestEU programme here in Malta, making EU funding simpler to access and more effective. It is an instrument that serves for all EU countries, regardless of the size of their economy, with the goal of supporting new green and digital sectors while strengthening EU leadership in RDI and boosting the vibrant start-up ecosystem both in Malta and in Europe”.
On the side-lines of the event, Minister Schembri held a bilateral meeting with Antongiulio Marin, Head of Unit for InvestEU implementation within the European Commission.
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