HSBC Malta has set up a €50 million fund to support business growth in Malta through international trade.

This funding, introduced as a part of HSBC’s Malta Trade for Growth initiative, was announced at the Malta Maritime Museum in the presence of Prime Minister Joseph Muscat, HSBC Bank Malta CEO Mark Watkinson and the Head of Commercial Banking Michel Cordina.

During the presentation, HSBC Malta also launched two related business tools, the first being a “Why Malta?” video promoting Malta’s and HSBC’s role in supporting businesses, and the second being a detailed country guide, produced in conjunction with PwC, for doing business with Malta.

“This €50 million fund further boosts the Malta Trade for Growth initiative launched by HSBC Malta earlier this year, as it aims at helping Maltese businesses flourish by increasing international trade with growing and emerging markets and, equally importantly, encouraging international investment in Malta,” explained Mr Cordina.

“International trade is forecast to bring the most significant growth to Maltese companies and the Malta Trade for Growth Fund is our platform to connect Maltese customers to global opportunities, to help customers grow their business and, in turn, further the prosperity of Malta’s economy."

Mr Watkinson said Malta could build on its competitive trade advantage and its strategic location that bridges Europe with Africa and the rest of the world.

Dr Muscat said the government was building upon Malta’s trade legacy by promoting international trade and attracting new inward investment, whilst capitalising on Malta’s strong specialisation in trade finance provided by companies like HSBC.

Through the Malta Trade for Growth Fund, companies will be eligible for a range of discounts and incentives, including capital to support their international trade, the waiving of administration fees for finance against trade export or import, facilities for trade with emerging markets, and discounts in pricing when upgrading from traditional overdrafts to Structured Trade Finance products, such as export loans or invoice finance. In addition along with the Fund HSBC are also offering a reduction in effective interest rate for Trade and Receivables Finance facilities.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.