A project submitted by the Mediterranean Bank Network has been awarded almost €300,000 in the recent calls for proposals under the EUPA Erasmus+ programme.

Its proposed project 'Financial and forecasting models for entrepreneurs' was made under the Strategic Partnerships for Vocational Education and Training umbrella.

This EU-allocated funding will help support the development of a training model and tools to support micro enterprises and entrepreneurs, to make responsible economic, financial and investment choices.

Mediterranean Bank Network director Marika Huber, who led the development of the bid, said: “The micro, small and medium enterprises are seen as crucial foundations to the EU economy, and this funding will allow us to initiate critical learning activities for entrepreneurs to develop financial capability in relation to their business management. Once the proposed activities are complete, SMEs and micro enterprises in Europe and around the Mediterranean will be poised to benefit from it.”

Mediterranean Bank Network is a non-profit banking organisation for Mediterranean banks established in November 1996. Its strategic partnership between leading and medium sized Mediterranean banks is designed to promote inter-regional commercial and business relationships amongst its members.

The new project will kick off with a meeting in Malta on October 27 and 28 in a bid to build and boost financial literacy in micro enterprises helping them stay stable on the market and foster local economies.