The upgrading of the Malta Development Bank’s InvestEU status to that of an Implementing Partner was discussed during a meeting at the Malta Development Bank. MDB Chairman Leo Brincat and its officials hosted at their Floriana offices Dr George M Hyzler, the Maltese Member of the European Court of Auditors and his Cabinet.
Mr Brincat explained that this can materialise once the Bank completes successfully the Pillar Assessment, an extensive European Commission audit that should be concluded imminently.
During the same meeting Mr Brincat stressed the Bank’s commitment to adhere to best European practices, as commended by the National Audit Office in their assessment of the Bank’s COVID-19 Guarantee Scheme.
He stated further that “The Bank wanted to make best use of EU funding opportunities to effectively position itself as businesses’ gateway to finance.”
The MDB made it clear that while it fully understood that it was ECA’s task to audit and monitor the implementation of the EU’s €800bn Recovery Fund, on its part the Bank considered it part of its mission to serve as an important vehicle for Malta’s socio-economic and environmental transformation towards the Green and Digital paths set out in the same Recovery Fund.
While the ECA Work Plan 2024 includes focus on State Aid applications in times of crisis, particularly both during the COVID-19 pandemic and the war in Ukraine, the MDB explained how it had issued a number of successful financial instruments linked to both crises.
Laqgħa Bank Malti għall-Iżvilupp – Qorti Ewropea tal-Awdituri: Diskuss ir-Rwol ikbar għall-Bank fl-InvestEU
Il-ħidma tal-Bank Malti għall-Iżvilupp biex ikun approvat bħala Msieħeb Implimentattiv tal-InvestEU kien diskuss waqt laqgħa li ċ-Chairman tal-Bank Malti għall-Iżvilupp Leo Brincat u l-uffiċjali tal-Bank kellhom fl-uffiċċji tal-MDB fil-Floriana ma’ Dr George M Hyzler, il-Membru Malti fil-Qorti Ewropea tal-Awdituri u l-Kabinett tiegħu.
Is-Sur Brincat spjega kif dan jista’ jseħħ la darba l-Bank itemm b’suċċess il-Pillar Assessment, kif inhu magħruf l-awditjar estensiv tal-Kummissjoni Ewropea li wasal fil-fażijiet finali tiegħu.
Waqt l-istess laqgħa, is-Sur Brincat enfasizza l-impenn tal-Bank li jaderixxi mal-aqwa prattiċi Ewropej, kif anke kien innutat b’mod pożittiv mill-Uffiċċju Nazzjonali tal-Verifika fl-evalwazzjoni li saret tal-Iskema ta’ Garanzij tal-COVID-19 imħaddma mill-MDB.
Huwa żied jgħid li “l-Bank ried jagħmel l-aqwa użu ta’ opportunitajiet ta’ finanzjament tal-UE biex ikun jista’ jservi ta’ punt ewlieni ta’ aċċess għall-finanzjament għan-negozji”.
L-MDB għamilha ċara li filwaqt li jifhem li hu r-rwol tal-ECA li jawditja u jimmonitorja l-implimentazzjoni tal-Fond ta’ Rkupru tal-UE ta’ €800bn, min-naħa tiegħu l-Bank jikkunsidra bħala parti mill-missjoni tiegħu li jservi ta’ aġent importanti għat-trasformazzjoni soċjo-ekonomika u ambjentali permezz tal-istrateġiji ambjentali u diġitali stipulat fl-istess Fond ta’ Rkupru.
Filwaqt li l-Pjan ta’ Ħidma tal-ECA 2024 jinkludi enfasi fuq l-applikazzjonijiet ta’ Għajnuna tal-Istat fi żminijiet ta’ kriżi, partikolarment waqt il-pandemija tal-COVID-19 u l-gwerra fl-Ukrajna, l-MDB spjega li kien ħareġ numru ta’ strumenti finanzjarji b’suċċess marbuta maż-żewġ kriżijiet.