Bank of Valletta was invited by the European Commission and the European Investment Fund to share its positive EU funding experience as a financial institution under the Joint Action to Support Microfinance Institutions – better known as Jasmine.

The Jasmine programme, launched in 2008, provides technical assistance to EU financial institutions and microfinance organisations and is financed by the European Commission and the European Investment Fund.

The Jasmine programme helped refine the bank’s internal capacity to provide access to finance for start-up operations and micro enterprises. Under the Jasmine programme, BoV was rated A- with a stable outlook after its operations were scrutinised by a specialised rating agency positioning it within the top five per cent of the financial institutions the rating agency deals with.

“The exchange of lessons learned with the European Commission and the European Investment Bank prove to be an excellent opportunity to enhance upcoming EU funding programmes under the 2014-2020 funding period,” said EU business development head Mark Scicluna Bartoli.

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