EU Business & Development Unit within Bank of Valletta is the hub that provides enterprises with specialised focus on European affairs. This unit has an office in Malta as well as an EU Representative Office in the Belgian capital Brussels.
This Unit provides customers with the following services:
- Strategic support for EU engagement and project development
- EU intelligence in the area of EU funding opportunities and the access to finance through financial engineering instruments
- Advice on EU funding and partnership searches
- Networking and capacity-building opportunities in collaboration with both national and EU contact points
- Information sessions, events and information facilities from BOV Centre
Furthermore, the BOV team within EU Business & Development Unit provides an understanding of the mechanics behind EU policy-shaping strategies. In this manner, they play an important role in supporting Malta’s sustainable growth by increasing the reach and impact of EU funds available to the enterprise. BOV offers tailor-made project financing depending on the customers’ needs and requirements.
European Union Funding
There are two main categories of EU funding available, namely:
- Decentralised EU Funding that is Malta-based EU Funding; and
- Centralised EU Funding that is Brussels-based EU Funding administered by the EU Commission and its EU agencies directly.
Over 70 per cent of EU funding / budget is administered by the Member State. EU funding runs according to the EU’s programming period. Currently, the EU’s programming period covers the term from year 2014 to year 2020. According to the n + 2 rule, all EU funding for this programming period needs to be spent by 2015.
EU Business & Development Unit organises regular information sessions on EU funding opportunities.