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Licensed credit and financial institutions have been directed to offer a six-month moratorium on repayments on capital and interest for borrowers. The conditions are as follows: Any credit facilities sanctioned prior to 1 March 2020 and the applicant must show that he has been negatively affected by the pandemic. Applicants in arrears prior to 1...

In wake of the heavy financial burden placed throughout by COVID-19, the Malta Development Bank has brought into effect the MDB COVID-19 Guarantee Scheme (CGS) which forms part of the of Government’s COVID19 Response Support Programme. The Government is providing financial assistance in the form of a guarantee fund to the tune of €350 million which will...

Applications for COVID Wage Supplements have now been made available online and the lists of enterprises who are entitled to the COVID Wage Supplements have been updated further. The applications have clarified various matters including the following: • Employees received a wage supplement cannot be made redundant by their employer. • The provision of wage...