BOV offers tourism financing package

Bank of Valletta is offering a tourism financing package aimed at customers seeking cash management and financing. The package offers bridge and end financing, with competitive interest rates and the possibility of a moratorium. Tourism contributes up...

Bank of Valletta is offering a tourism financing package aimed at customers seeking cash management and financing. The package offers bridge and end financing, with competitive interest rates and the possibility of a moratorium.

Tourism contributes up to 25 per cent of Gross Domestic Product. Throughout the Mediterranean, new tourist destinations are becoming increasingly popular and are posing more pressure on our industry to upgrade hotels, guest house accommodation, restaurants and entertainment establishments.

The government has allocated €10 million EU Structural Funds for 2007-2013. The funds are being made available under the grant scheme that will finance 30 to 50 per cent of eligible costs.

The BOV package aims to help organisations applying for EU funding under this scheme. The targeted areas under the grant scheme are product upgrades and investment in equipment; investment in environment-friendly measures; investment in information technology; investment in entrepreneurship, and investment in marketing.

For information, customers may visit any Bank of Valletta branch or the Business Centre or call 2131 2020.

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