BOV Studies Plus+ Fund to increase to €8,250,000 with European Funds​​

The MDB and Managing Authority secure additional EU funds following successful take-up

Following the successful take-up of the initial allocation, Bank of Valletta is extending its BOV Studies Plus+ fund to €8,250,000, after the Malta Development Bank (MDB) secured additional European funds with the support of the Managing Authority. Bank of Valletta was awarded this top-up from the European Social Fund as part of a public call organised by the MDB.

The BOV Studies Plus+ is a financing solution for those seeking to further their studies in Malta or abroad, undertaking full-time, part-time or distance learning courses leading to MQF levels 5, 6, 7 or 8 qualifications or other internationally recognised certificates. Since its initial launch, Bank of Valletta channelled €5.5 million worth of European funding to aid students and professionals invest in their education.

During the signing of the fund top-up agreement, Albert Frendo, Chief Credit Officer at Bank of Valletta stated that BOV is proud to have been “instrumental in assisting 145 students further their studies towards the career of their choice. This extension in the studies fund will open doors for even more individuals who would have been otherwise held back by financial barriers to pursue high-cost development opportunities. Its impact will be wide-reaching, resulting in a more skilled local talent pool.”

​“The Malta Development Bank is pleased to collaborate once again with Bank of Valletta in supporting more students and professionals develop their potential, reducing their need for financial dependence on others,” said MDB CEO Rene Saliba. “The rapid take-up of the initial fund prompted us to apply for an extension and bring more funds to Malta. Loans under this scheme can cover tuition fees, accommodation, transport, subsistence and other study-related costs, while interest due during the studies period will be fully covered by the European Social Fund (ESF) placing no payment obligation on students during this period of low or no income.”

Parliamentary Secretary for European Funds Hon Stefan Zrinzo Azzopardi, said that with European funds, from the European Social Fund, we are continuously investing in people. He explained that through an additional €1 million that will serve as an add on to the originally allocated €2 million in European funds, we will be giving an opportunity to 180 persons to benefit from these financial instruments. Dr Zrinzo Azzopardi continued saying that the European Union is envisaging more growth in the digital sector, thus it will bring about changes in the economy, therefore we need to incentivise more persons so they continue studying to keep up with these developments.

These European funds will provide assistance so that more persons may have the opportunity to advance in their careers. Investment in education is an investment in our country, so that Malta can continue to progress,’ concluded the Parliamentary Secretary.

​“The BOV Studies+ eradicates two major barriers – collateral requirements and unaffordability,” declared the BOV Chief Officer. “Students can repay the loan after they conclude their studies through the income they earn upon employment. This product has been designed to ensure that the financing of studies is both affordable and accessible to as many prospective students as possible, offering a number of benefits such as an attractive interest rate, a moratorium period of up to 5 years and no upfront contribution or collateral requirement.”

The BOV Studies Plus+ (Further Studies Made Affordable Financial Instrument) is supported by the Operational Programme II, co-funded by the European Social Fund and managed by the Malta Development Bank.

More information can be found on https://www.bov.com/content/bov-studies-plus-plus​. To apply one should set up an appointment with a BOV Branch by sending an email on customercare@bov.com.

All loans are subject to normal bank lending criteria and final approval from the Bank. The term of the loan must not go beyond retirement age. Terms and conditions are available on www.bov.com. Issued by Bank of Valletta p.l.c., 58, Triq San Zakkarija, Il-Belt Valletta VLT 1130. Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking in terms of the Banking Act (Cap.371 of the Laws of Malta).


Il-Fond tal-BOV Studies Plus+ jittella’ għal €8,250,000 b’fondi Ewropej

L-MDB u l-Managing Authority jassiguraw fondi Ewropej addizzjonali wara s-suċċess inizjali ta’ din l-iskema

Wara s-suċċess tal-allokazzjoni inizjali, il-Bank of Valletta qed jestendi l-fondi tal-BOV Studies Plus+ għal €8,250,000, wara li l-Bank Malti għall-Iżvilupp (MDB) assigura fondi Ewropej addizzjonali bl-appoġġ tal-Managing Authority. Il-Bank of Valletta ngħata din iż-żieda mill-Fond Soċjali Ewropew wara sejħa pubblika organizzata mill-Bank Malti għall-Iżvilupp.

​Il-BOV Studies Plus+ hija soluzzjoni ta’ finanzjament għal dawk l-individwi li jixtiequ jkomplu l-istudji tagħhom f’Malta jew f’pajjiżi oħra, biex jagħmlu korsijiet ta’ tagħlim full-time, part-time jew distance learning li jwasslu għal-livelli MQF 5, 6, 7 jew 8 jew kwalifiki oħra rikonoxxuti internazzjonalment. Sa mit-tnedija inizjali ta’ din l-iskema, il-Bank of Valletta ta madwar €5.5 miljun f’finanzjament Ewropew sabiex jgħin lil studenti u professjonisti jinvestu fl-edukazzjoni tagħhom.

Waqt l-iffirmar tal-ftehim, Albert Frendo, Chief Credit Officer fil-Bank of Valletta ddikjara li l-BOV huwa kburi li kien “strumentali biex jassisti lil 145 student ikomplu bl-istudji tagħhom lejn il-karriera tal-għażla tagħhom. Din l-estensjoni fil-fond tal-istudji se tiftaħ bibien għal aktar individwi li altrimenti, minħabba ostakli finanzjarji, jinżammu lura milli jsegwu opportunitajiet ta’ żvilupp. L-impatt pożittiv huwa aktar wiesa’, għaliex dan l-investiment fil-ħiliet jirriżulta f’ħaddiema u professjonisti Maltin aktar imħarrġa.”

“Kuntenti li bħala l-Bank Malti għall-Iżvilupp, qegħdin għal darb’oħra nikkollaboraw mal-Bank of Valletta sabiex nagħtu appoġġ lil aktar studenti u professjonisti jiżviluppaw il-potenzjal tagħhom, u b’hekk ngħinuhom inaqqsu l-ħtieġa għal dipendenza finanzjarja fuq oħrajn,” qal is-CEO tal-MDB Rene Saliba. “L-adozzjoni rapida tal-fond inizjali wasslitna biex napplikaw għal estensjoni u nġibu aktar fondi lejn Malta. Is-self taħt din l-iskema jista’ jkopri l-miżati tal-kors u spejjeż oħra relatati mal-istudju bħal akkomodazzjoni u trasport. L-imgħax dovut matul il-perjodu tal-istudji jkun kopert bis-sħiħ mill-Fond Soċjali Ewropew (FSE) u ma jpoġġi l-ebda obbligu ta’ ħlas fuq l-istudent matul dan il-perjodu ta’ dħul limitat.”

Is-Segretarju Parlamentari għall-Fondi Ewropej Hon Stefan Zrinzo Azzopardi, qal li permezz ta’ fondi Ewropej, mill-Fond Soċjali Ewropew, qed inkomplu ninvestu fin-nies. Huwa spjega kif issa żidna miljun ewro maż-żewġ miljun ewro f’fondi Ewropej li kienu oriġinalment allokati. Dawn se jagħtu opportunita lil madwar 180 persuna biex jkunu jistgħu jibbenefikaw mill-faċilitajiet finanzjarji. Dr Zrinzo Azzopardi kompla jgħid li l-Unjoni Ewropea qed tħares lejn aktar żvilupp fil-qasam diġitali li se jkun qed iġġib bidla wkoll fl-ekonomija b’hekk irridu ninċentivaw lil aktar persuni biex ikomplu jistudjaw u jżommu ruħhom aġġornati ma’ dawn il-bidliet.

‘Dawn il-fondi Ewropej se jkunu ta’ sostenn biex aktar persuni jkollhom l-opportunita javvanzaw fil-karriera tagħhom. Investiment fl-edukazzjoni huwa investiment fil-pajjiż, biex Malta tkompli timxi l’quddiem’, ikkonkluda jgħid is-Segretarju Parlamentari.

Il-BOV Studies Plus+ huwa appoġġjat mill-Programm Operattiv II, kofinanzjat mill-Fond Soċjali Ewropew u mmexxi mill-Bank Malti għall-Iżvilupp, filwaqt li jibbenefika mill-iskema ta’ garanziji tal-MDB.

Aktar informazzjoni tinstab fuq https://www.bov.com/content/bov-studies-plus-plus. Wieħed jista’ japplika billi jagħmel appuntament ma’ Fergħa tal-Bank of Valletta billi jibgħat email fuq customercare@bov.com​.

Is-self kollu huwa soġġett għall-kriterji normali tal-Bank dwar is-self u għall-approvazzjoni finali mill-Bank. It-terminu tas-self m’għandux imur lil hinn mill-età tal-irtirar. Termini u l-kundizzjonijiet huma disponibbli fuq il-websajt: www.bov.com. Maħruġa mill-Bank of Valletta p.l.c., 58, Triq San Żakkarija, Il-Belt Valletta VLT 1130. Il-Bank of Valletta p.l.c. hija kumpanija pubblika b’responsabbiltà limitata regolata mill-MFSA u hija liċenzjata biex toffri l-kummerċ bankarju f’termini tal-Att dwar il-Kummerċ Bankarju (Kap. 371 tal-Liġijiet ta’ Malta).

Read More

12 September 2024

MDB and MCAST aligned on Student Development and Career Readiness Initiatives

10 July 2024

APS Bank and Malta Development Bank strengthen collaboration

12 June 2024

InvestEU: EIF – Malta Development Bank agreement to mobilise around €44 million in investments in sustainable and creative projects

06 June 2024

Meeting with the Malta Development Association

07 May 2024

Good governance is a priority for the MDB and the NAO

29 April 2024

€623 million in cumulative financial support from the MDB

16 April 2024

MDB committed to forge stronger ties with the two leading trade related chambers

08 April 2024

MDB hosts Shadow Minister for Finance Graham Bencini

14 March 2024

The Malta Development Bank and the European Investment Bank Group are natural partners to facilitate the island’s economic transformation process

05 March 2024

MDB puts strategic partnership with business associations and trade unions to the fore

27 February 2024

MDB brings together key stakeholders from the commercial banking sector to foster a strategic dialogue and step up collaboration 

03 February 2024

Malta Development Bank – European Court of Auditors Meeting: Upgrading of InvestEU status discussed

30 January 2024

MDB strengthens ability to finance green projects through EIB’s Green Gateway support

16 January 2024

MDB celebrates milestone as loans for further education exceed €20 million

27 December 2023

New Chairman and Directors appointed at the Malta Development Bank

14 November 2023

Malta: €30 million from the EIB to MDB to accelerate the green transition

04 September 2023

Malta Development Bank unveils new website showcasing schemes and opportunities

27 June 2023

Malta Development Bank strengthens support to SMEs with signing of agreements with BOV, HSBC and APS

03 May 2023

MDB plays crucial role in facilitating access to finance and unlocking businesses investment​

08 February 2023

FSMA+: 430 students continue their studies through €15m financing from MDB Schemes​

14 December 2022

Commission approves State aid to support MDB’s remit until December 2027

23 November 2022

Malta launches two favourable financing schemes to facilitate €180 investment in economy​

28 October 2022

Malta Development Bank hosts 30 promotional banks for the ELTI General Assembly 2022​

14 October 2022

Skema ġdida ‘Go-To-Market’ b’aktar minn €1.5M f’fondi kapitali biex jitwettqu proġetti tal-R&I​​

07 July 2022

MDB appoints new Chief Executive Officer​

14 June 2022

MDB launches €150 million emergency liquidity support to businesses in response to the Ukraine crisis​ ​

19 May 2022

MDB launches first support measure in response to the Ukraine crisis​

10 May 2022

MDB publishes its 2021 Annual Report​

30 April 2022

​MDB supporting SMEs through new schemes​

08 February 2022

Additional €15 million for students to further their studies​​

31 January 2022

MDB extends COVID-19 Guarantee Scheme until June 2022​​​

19 October 2021

MDB COVID-19 Guarantee Scheme extended until 31 December 2021​​

24 August 2021

MDB to launch a new EU funded scheme for students​

04 August 2021

MDB’s impact on the ground exceeds half a billion euro since inception​

26 May 2021

MDB’s COVID-19 Guarantee Scheme reaches 40,000 employees​

28 April 2021

The Malta Development Bank publishes its 2020 Annual Report

26 March 2021

MDB and MEA to collaborate further for the benefit of local businesses​​

23 September 2020

MDB reaches agreement with BOV for delivery of Small Loans Guarantee Scheme

09 August 2020

MDB Facilitates SME Access to Liquidity​

18 July 2020

MDB Provides Lifeline to over 250 Businesses​​

27 April 2020

The Malta Development Bank publishes its second Annual Report​​

22 April 2020

MDB appointed implementing body of COVID-19 Interest Rate Subsidy Scheme​

03 April 2020

MDB launched COVID-19 Guarantee Scheme

26 July 2019

MDB and KfW Group Establish Cooperation for SME Financing

18 April 2019

The Malta Development Bank publishes its first Annual Report