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MDB COVID-19 Guarantee Scheme

3 Apr 2020 12:00 | Anonymous
The MDB COVID-19 Guarantee Scheme (CGS) provides guarantees to commercial banks in order to enhance access to bank financing for the working capital requirements of businesses in Malta facing a sudden acute liquidity shortage as a result of the COVID-19 outbreak. A Guarantee Fund of €350 million has been allocated by Government for the purpose of guaranteeing loans granted by commercial banks in Malta to meet new working capital requirements of businesses facing cashflow disruptions due to the effects of the COVID-19. The CGS enables the commercial banks to leverage Government’s guarantees up to a total portfolio volume of €777.8 million to support all types of businesses.
Through the MDB COVID-19 INTEREST RATE SUBSIDY SCHEME (CIRSS), businesses will be benefitting from a subsidy of up to 2.5% on the interest rate charged by banks during the first two years of working capital loans guaranteed by the CGS.
Loans will be available from the commercial banks accredited by the MDB. Loan applications are assessed by the commercial banks in line with their credit policy criteria. Final approval rests with the commercial banks. 
For more information and the list of accredited commercial banks offering facilities under the CGS click here.


               

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