Local fishing industry benefits from BoV finance packages

Following the European Commission's approval of the Operational Programme for the Maltese Fisheries Industry for 2007-2013, the local authorities will be issuing €11.1 million in funds to assist the members of this important sector of Malta's economy.

To support this industry, Bank of Valletta is introducing the BoV Fisheries and Marine Financing Package linked to financing and co-financing opportunities that will directly be of benefit to the fishing community.

Through these financing packages, BoV is offering competitive interest rates to improve cash flow management.

BoV will also be assisting fishermen who intend to acquire a new fishing boat by offering to finance 80 per cent of the total cost of the boat, with the customers' contribution amounting to only 20 per cent. The BoV Fisheries and Marine Financing Package is open for part-time and full-time fishermen and their associated companies, fishermen cooperatives, trade related organisations (including associations) as well as network organisations that are implementing fisheries, fish farm and maritime projects involving EU structural funds.

For further information customers may visit any BoV branch or call the Customer Service Centre on 2131 2020.