BOV again entrusted as Exclusive MDB
Partner to support students achieve their ambitions
FSMA+
is an EU-funded scheme implemented by MDB through BOVFollowing the issue by the Malta Development
Bank of an open call for expression of interest, Bank of Valletta has been
selected to intermediate the Further Studies Made Affordable plus
(“FSMA+”) scheme, a Financial Instrument implemented by the Malta Development
Bank after securing EU funds from Malta’s European Social Fund Operational
Programme. Through
this scheme, ESF funds will serve as a guarantee for the creation of a loan
portfolio of up to €15 million which will
be made available as financing
to students who wish to further their studies.
The FSMA+ builds on the success of the FSMA
scheme which was launched in 2019 and generated over €9 million in new study
loans. The BOV Studies Plus+ supports students or professionals who want to
pursue studies in Malta or abroad on a full time/part time basis or through
distance learning. The BOV Studies Plus+ can help finance accommodation,
living and travelling expenses in addition to the tuition fees on very
favourable terms.
The benefits of BOV Studies Plus+ include a
moratorium during the study period plus one year during which the student does
not pay any interest, a longer repayment term, no collateral requirements and a
low interest rate during the remaining term of the loan. The interest on
the loan during the moratorium period is fully subsidised thanks to EU funds
made available by the Managing Authority through its implementing partner the
Malta Development Bank.
The agreement was signed by BOV Chief Retail Banking Officer Kenneth Farrugia
and Malta Development Bank Chairman Prof Josef Bonnici in the presence of BOV
Chairman Dr Gordon Cordina,
the
Hon.
Dr Stefan
Zrinzo Azzopardi, Parliamentary Secretary for European Funds and Ministers Hon.
Silvio Schembri, Minister for
the Economy and Industry and
Hon Dr Clifton Grima, Ministry for
Education and Sport.
‘Education
is a vital tool and all students should be able to access and finance their
higher education as they proceed in their unique life journey,’ said the BOV
Chairman. ‘Bank of Valletta is proud to have been selected by the Malta
Development Bank to implement the largest fund for student financing to date,
at even better rates than previous editions. The BOV Studies Plus+ is tailored
to equip students with confidence in the decisions they are making to plan and
pay for higher education which in turn will yield economic mobility and
advancement for generations to come.’
'The Malta Development Bank’s collaboration with
Bank of Valletta has already provided over €9 million during the past two years
and another €15 million will be made available to students and professionals
seeking to maximise their potential,’ said Prof Bonnici. ‘The strong appeal of this
funding spurred us to seek more financing from the European Social Fund (ESF)
that will enable students to achieve more successes in their personal and
professional lives and play an important role in Malta’s
post-pandemic economic recovery.’
‘This is yet another investment from
European Union funds towards education and facilitating financing that will
guarantee long term sustainable investments for the country,’ said Dr Zrinzo Azzopardi.
‘This multi-million-euro
scheme will offer our youth and even senior students more opportunities to
develop their skill-set and obtain their desired employment with the country
benefitting from their additional skills and resources.’
The BOV Studies Plus+ (Further Studies Made Affordable Plus 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 at
https://www.bov.com/content/bov-studies-plus-plus. To apply one should set up
an appointment with a BOV Branch through https://www.bov.com/Assistants/set-an-appointment or by sending an email on customercare@bov.com.
€15-il miljun
addizzjonali għal studenti li jixtiequ jkomplu fl-istudji tagħhom
Il-BOV
jerġa jintagħżel bħala Sieħeb Esklussiv tal-MDB biex jappoġġja l-istudenti biex
jilħqu l-ambizzjonijiet tagħhomFSMA+ hija
skema ffinanzjata mill-UE implimentata mill-MDB permezz tal-BOV
Wara l-ħruġ mill-Bank
Malti għall-Iżvilupp ta’ sejħa miftuħa għal espressjoni ta’ interess, il-Bank
of Valletta intagħżel bħala intermedjarju fl-iskema Further Studies Made
Affordable plus (“FSMA+”), Strument Finanzjarju mplimentat mill-Bank Malti
għall-Iżvilupp wara li kiseb fondi mill-UE fondi mill-Programm Operattiv
tal-Fond Soċjali Ewropew (FSE) ta’ Malta. Permezz ta’ din l-iskema, il-fondi
tal-FSE se jservu bħala garanzija għall-ħolqien ta’ portafoll ta’ self sa
€15-il miljun li se jkun disponibbli bħala finanzjament għall-istudenti li
jixtiequ jkomplu l-istudji tagħhom.
L-FSMA+ tibni fuq
is-suċċess tal-iskema tal-FSMA li tnediet fl-2019 u ġġenerat 'il fuq minn €9
miljun f'self ġdid għall-istudju. Il-BOV Studies Plus+ jappoġġja studenti jew
professjonisti li jixtiequ jkomplu studji f’Malta jew barra fuq bażi
full-time/part time jew permezz ta’ tagħlim mill-bogħod. Il-BOV Studies Plus+
jista’ jgħin biex jiffinanzja l-ispejjeż tal-akkomodazzjoni, tal-għajxien u
tal-ivvjaġġar flimkien mal-miżati għat-tagħlim b’termini favorevoli ħafna.
Il-benefiċċji
ta’ BOV Studies Plus+ jinkludu moratorju matul il-perjodu ta’ studju u sena
oħra, li matulha l-istudent ma jħallas l-ebda imgħax, terminu ta’ ħlas lura
itwal, l-ebda rekwiżiti ta’ kollateral u rata ta’ imgħax baxxa matul it-terminu
li jifdal tas-self. L-imgħax fuq is-self matul il-perjodu tal-moratorju huwa
sussidjat bis-sħiħ grazzi għall-fondi tal-UE li saru disponibbli mill-Awtorità
Maniġerjali permezz tas-sieħeb implimentattiv tagħha l-Bank Malti
għall-Iżvilupp.
Kenneth Farrugia,
Chief Retail Banking Officer tal-Bank of Valletta ffirma l-ftehim maċ-Chairman
tal-Malta Development Bank, Prof Josef Bonnici fil-preżenza taċ-Chairman
tal-BOV Dr Gordon Cordina, l-Onor. Dr Stefan Zrinzo Azzopardi, Segretarju
Parlamentari għall-Fondi Ewropej u Ministri l-Onor. Silvio Schembri, Ministru għall-Ekonomija,
Investiment u Intrapriżi żghar, u l-Onor Dr Clifton Grima, Ministru
tal-Edukazzjoni u Sport
‘L-edukazzjoni
hija għodda vitali u l-istudenti kollha għandhom ikunu jistgħu jaċċessaw u jiffinanzjaw
l-edukazzjoni għolja tagħhom hekk kif jipproċedu fil-vjaġġ uniku tal-ħajja
tagħhom,’ qal iċ-Chairman tal-BOV. ‘Il-Bank of Valletta huwa kburi li ntgħażel
mill-Bank Malti għall-Iżvilupp biex jimplimenta l-akbar fond għall-finanzjament
tal-istudenti sal-lum, b’rati saħansitra aħjar minn edizzjonijiet preċedenti.
Il-BOV Studies Plus+ huwa mfassal biex jagħti lill-istudenti l’kunfidenza
fid-deċiżjonijiet li qed jieħdu biex jippjanaw u jħallsu għall-edukazzjoni
għolja li min-naħa tagħha se tagħti mobilità ekonomika u tmexxi ‘l quddiem il-ġenerazzjonijiet
li ġejjin.’.
'Il-kollaborazzjoni
tal-Bank Malti għall-Iżvilupp mal-Bank of Valletta diġà pprovdiet €9 miljun tul
dawn l-aħħar sentejn u €15-il miljun oħra se jkunu disponibbli għal studenti u
professjonisti li jfittxu li jimmassimizzaw il-potenzjal tagħhom,’ qal il-Prof
Bonnici. ‘L-appell qawwi ta’ dan il-finanzjament xprunana biex infittxu aktar
finanzjament mill-Fond Soċjali Ewropew (FSE) li jippermetti lill-istudenti
jiksbu aktar suċċessi fil-ħajja personali u professjonali tagħhom u jkollhom
rwol importanti fl-irkupru ekonomiku ta’ Malta wara l-pandemija.’
‘Dan huwa
investiment ieħor mill-fondi tal-Unjoni Ewropea lejn l-edukazzjoni u
l-iffaċilitar ta’ finanzjament li jiggarantixxi investimenti sostenibbli
fit-tul għall-pajjiż,’ qal Dr Zrinzo Azzopardi. ‘Din l-iskema ta’ bosta miljuni
ta’ ewro se toffri liż-żgħażagħ tagħna u anke lill-istudenti anzjani tagħna
aktar opportunitajiet biex jiżviluppaw il-ħiliet tagħhom u jiksbu l-impjieg
mixtieq tagħhom bil-pajjiż jibbenefika mill-ħiliet u r-riżorsi addizzjonali
tagħhom.’
Il-BOV Studies
Plus+ (Further Studies Made Affordable Plus Financial Instrument) huwa
appoġġjat mill-Programm Operattiv II, ko-finanzjat mill-Fond Soċjali Ewropew u
mmexxi mill-Bank Malti għall-Iżvilupp.
Aktar informazzjoni
tista’ tinstab fuq https://www.bov.com/content/bov-studies-plus-plus. Biex japplika wieħed
għandu jiffissa appuntament ma’ Fergħa tal-BOV permezz ta' https://www.bov.com/Assistants/set-an-appointment jew billi jibgħat
email fuq customercare@bov.com.