EIB Group Opens Malta Office to Strengthen Local Partnerships and Drive Sustainable Investments

EIB Group Opens Malta Office to Strengthen Local Partnerships and Drive Sustainable Investments

(IN BRIEF) The European Investment Bank (EIB) Group has deepened its ties with Malta by opening a new office in Valletta, enhancing collaboration with local businesses, government, and stakeholders. Announced by EIB Group President Nadia Calviño alongside Finance Minister Clyde Caruana, the move marks 45 years of EIB activity in Malta, with over €1 billion invested in projects ranging from social housing to iconic infrastructure. The office will facilitate investment decisions, advisory services, and support for initiatives aligned with Malta’s sustainability and innovation goals. Recent projects include €22 million for energy-efficient housing and a €30 million partnership benefiting over 140 SMEs.

(PRESS RELEASE) LUXEMBOURG, 28-Nov-2024 — /EuropaWire/ — The European Investment Bank (EIB) Group has strengthened its partnership with Malta by opening a dedicated office in Valletta, signaling its commitment to fostering collaboration with local businesses, government, and stakeholders. The announcement was made by EIB Group President Nadia Calviño at an event attended by Malta’s Minister for Finance Clyde Caruana and Permanent Secretary for the Ministry Paul Zahra. The new office is seen as a strategic move to deepen support for Maltese projects and enhance the EIB’s role in the country’s economic and social development.

“This year, we celebrate 45 years of EIB activity in Malta, with over €1 billion in financing committed to local investments,” said President Calviño. “Opening this office underscores our dedication to Malta, enabling closer collaboration with authorities, businesses, and communities, while driving social and territorial cohesion.”

Finance Minister Clyde Caruana lauded the shared vision between Malta and the EIB: “The establishment of a permanent presence in Malta symbolizes our shared values of sustainability, solidarity, and innovation. Together, we can deliver transformative projects that ensure Malta remains resilient and forward-looking.”

The new office, led by Lawrence Walsh, will streamline engagement between the EIB Group and Maltese stakeholders, bolstering investment decisions and advisory services. The announcement coincided with discussions between President Calviño and Maltese leaders, including Prime Minister Robert Abela, Deputy Prime Minister Ian Borg, and Minister Caruana, focusing on priority areas for future cooperation. President Calviño also toured EIB-financed landmarks, such as Malta’s parliament building.

Since initiating operations in Malta in 1979, the EIB Group has supported diverse projects across sectors, including telecommunications, SME financing, and housing. Notable contributions include the construction of 750 social housing units and iconic infrastructure such as the Valletta city gate area’s parliament building and open-air theatre. Recent investments include a €22 million loan for energy-efficient social housing and a €30 million partnership with the Bank of Valletta under the InvestEU initiative to benefit over 140 SMEs.

The new office reinforces the EIB Group’s role in Malta’s economic evolution, fostering innovation, sustainability, and long-term growth through targeted financial and advisory support.

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400,000 companies and 5.4 million jobs.

All projects financed by the EIB Group are in line with the Paris Climate Accord. The EIB Group does not fund investments in fossil-fuels. We are on track to deliver on our commitment to support  €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

Approximately half of the EIB’s financing within the EU is directed towards cohesion regions, where per capita income is lower. This underscores the Bank’s commitment to fostering inclusive growth and the convergence of living standards.

The European Investment Fund (EIF) is part of the EIB Group. It supports Europe’s small and medium-sized enterprises (SMEs) by improving their access to finance through a wide range of selected financial intermediaries. The EIF designs, promotes and implements equity and debt financing instruments targeting SMEs. In this role, EIF fosters EU objectives in support of entrepreneurship, growth, innovation, research and development, the green and digital transitions and employment. In 2023, the EIF mobilized over €134 billion for the European economy, enhancing competitiveness, supporting innovative entrepreneurs, promoting social impact, fostering sustainability, and advancing the green transition. Going forward, EIF aims to strengthen financing access for European entrepreneurs, focusing on key sectors to drive sovereignty, competitiveness, and a greener, more inclusive future.

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SOURCE: European Investment Bank