A €50 million trade fund launched by HSBC Malta is offering new funding to support business growth in Malta through inter­national trade.

“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 HSBC Malta Head of Commercial Banking Michel 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. With offices on the ground in 60 markets and more than 7,000 relationship managers operating worldwide we are in a unique position to connect potential customers in new markets, provide local insight through people on the ground, and offer the financial support for businesses to expand globally,” Mr Cordina said.

To date, more than 500 companies have made enquiries into Malta Trade for Growth as they look to grow their business overseas and take advantage of incentives such as discounts on foreign currency transactions.

Through the Malta Trade for Growth Fund, companies are 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.

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.

www.hsbc.com.mt/50million

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