Maltese banks have not been provided details of how a government scheme to subsidise interest rates for businesses hit hard by the coronavirus pandemic will function, their association said on Saturday.
The scheme announced by finance minister Edward Scicluna on Thursday is intended to offer businesses and self-employed workers a subsidy on the 2.5 per cent interest rate charged by banks for the first two-years of the loan, to ease the impact of the COVID-19 crisis.
But, in a statement, the Malta Bankers’ Association said the “specific details, terms and modality of the announced scheme” had not been communicated to its members.
Source: Times of Malta
Updated: 15:10
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