Finance Minister Edward Scicluna said that the Government is seeking to set up an entity which would oversee and monitor public-private partnerships during the years following the award of the concession.
Addressing two seminars organised by the Ministry for Finance, which discussed investment through development banks and public-private partnerships, Prof. Scicluna said both instruments led to investment which in turn leads to economic growth.
“No country has ever stated that it has too much investment. Investment is the primary factor contributing to economic growth," he said.
Prof. Scicluna spoke about the Malta Development Bank, saying that the bank is now operational, and is considering actively a number of projects. He said that the bank will intervene to finance both large projects and small projects involving SMEs, and address the ‘market failures’, gaps which cannot be dealt with by commercial banks.
He added that the Malta Development Bank is in talks with other development banks in order to collaborate and increase their capital over and above the finance provided by Government.
This seminar held at the Central Bank of Malta was also addressed by Alfred Camilleri, Permanent Secretary at the Ministry for Finance, Jacob Salomon and Mr Thomas Boemoser from the European Central Bank, and Luca Ascoli from Eurostat.