Government to subsidise half of band clubs' loan interests
€280,000 scheme will help musical societies invest in upgrades and strengthen their role in local communities
Band clubs will have half their bank-loan interest subsidised under a new €280,000 government scheme aimed at easing financial pressures on musical societies.
Culture Minister Owen Bonnici said on Saturday that the scheme will significantly reduce the financial burden on band clubs giving them the freedom to carry out essential improvements, renovations and projects that help strengthen their role in the community.
Musical societies that apply for a commercial bank loan will benefit from an annual subsidy covering 50 per cent of the interest due on the bank-approved loan.
The support is calculated on a maximum loan amount of €500,000 and can be granted for up to ten consecutive years. The call operates on a first-come, first-served basis until November 17, 2026, or until all funds are allocated.
Musical societies whose premises were purchased by the government in order to prevent eviction due to the legal situation created by the pre-1995 rent laws will not be eligible for this scheme.
“This step helps band clubs plan with greater certainty, while ensuring they remain an active part of Malta’s cultural life,” Bonnici said.
Only voluntary organisations registered with the Commissioner for Voluntary Organisations, compliant with the Voluntary Organisations Act, that qualify as band clubs or musical societies, and that have a bank-approved loan or are in the process of obtaining one, may apply.
The total budget for this session is €280,000, and the eligible period for loan interest extends from January 1, 2026 to December 31, 2035.