Malta Development Bank joins ELTI in Brussels to discuss future EU budget and National Promotional Banks

The Malta Development Bank (MDB) joined leading European long-term investors in Brussels for a public event organised by the European Long-Term Investors Association (ELTI), focused on the future of the European Union’s Multiannual Financial Framework (MFF), the EU’s long-term budget. 

MDB Chief Executive Officer Alison Micallef, accompanied by Senior EU Affairs Officer Silvio Attard, participated in a high-level panel discussion on the role of National Promotional Banks and Institutions as key implementing partners in the next MFF. Her central message was clear: competitiveness must remain inclusive. 

The ELTI Public Event brought together over 350 senior representatives from European institutions, National Promotional Banks and Institutions, and policy experts to discuss how the next EU budget can strengthen Europe’s competitiveness, resilience, and long-term investment capacity. 

The discussions took place against a backdrop of significant geopolitical, industrial, and fiscal challenges. Participants highlighted the important role of public financial institutions in mobilising public and private investment, supporting the green and digital transitions, and helping to implement EU policy objectives at national and regional level. 

MDB calls for inclusive competitiveness and proportionality 

Ms Micallef participated in the first panel, “Long-term investors as key implementing partners in the next MFF”, which explored how National Promotional Banks and Institutions can play a stronger role in delivering EU investment priorities. 

During her intervention, Ms Micallef made the case for a stronger proportionality framework within the European Competitiveness Fund. She emphasised that Europe’s competitiveness agenda must reflect the realities of smaller Member States, not only those of the largest economies. 

She highlighted the need for more flexible reporting, proportionate compliance requirements, and blended finance structures that allow National Promotional Banks to play a meaningful local delivery role.

Ms Micallef also called for a genuine financing chain in which European-level instruments are effectively connected to national institutions. This, she noted, is essential to ensure that support reaches businesses, SMEs, innovation projects, and green and digital transition investments on the ground. 

National Promotional Banks as key EU investment partners 

The panel also addressed the need to strengthen the role of National Promotional Banks and Institutions in EU investment delivery, improve coordination between European and national instruments, and enhance support for SMEs, innovation, and the green and digital transitions. 

The first panel brought together Dario Scannapieco, ELTI President and Chief Executive Officer of Cassa Depositi e Prestiti; Catherine Mayenobe, Deputy Chief Executive Officer of Caisse des Dépôts et Consignations Group; Alison Micallef, Chief Executive Officer of the Malta Development Bank; and André Küüsvek, President and Chief Executive Officer of the Nordic Investment Bank. 

The discussion was moderated by Cinzia Alcidi, Senior Research Fellow and Head of the Economic Policy Unit and Jobs & Skills Unit at CEPS. 

Strengthening Europe’s competitiveness and investment capacity 

The public event opened with a welcome message delivered on behalf of Executive Vice-President Stéphane Séjourné by Estelle Göger, Deputy Head of Cabinet at the European Commission. 

This was followed by a keynote address by Kerstin Jorna, Director-General for Internal Market, Industry, Entrepreneurship and SMEs, who underlined the importance of strengthening Europe’s Single Market and industrial base to support long-term competitiveness.

A second panel, “A robust MFF for a more competitive and sovereign Europe”, examined how the next EU budget can better support Europe’s long-term strategic goals. The discussion focused on the need for more efficient and coherent use of EU funding instruments, greater simplification of implementation frameworks, and stronger alignment between the MFF, Europe’s competitiveness agenda, industrial strategy, and cohesion objectives. 

MDB’s continued engagement with European partners 

The public event was preceded by ELTI internal governance and coordination meetings, including a Management Board meeting and a CEO-level exchange. Discussions focused on ELTI’s ongoing advocacy priorities, including housing, the Savings and Investment Union, the MFF, circular economy, and Europe’s industrial and strategic autonomy agenda. 

Across the event, participants reaffirmed the importance of close cooperation between European institutions and National Promotional Banks and Institutions in designing and implementing future investment frameworks. In her address, Ms. Micallef emphasised the critical importance of strategic regulation to ensure Europe remains competitive, while carefully avoiding the pitfalls of overregulation. The discussions also underlined the broad consensus that the next MFF will be a key instrument in advancing Europe’s strategic priorities, including competitiveness, industrial transformation, and economic resilience. 

The Malta Development Bank’s participation reflects its continued engagement with European partners and its role as Malta’s National Promotional Bank in supporting investment, competitiveness, sustainable growth, and the effective use of EU-backed financial instruments in Malta.