Minister for Energy, Enterprise and Sustainable Development Miriam Dalli has launched three schemes worth €12.1 million to support businesses as part of the economic stimulus plan post-Covid.
The schemes, supported by Malta Enterprise and launched by Minister Dalli, are the One-Time-Grant worth €1,000 per company or business which had to close after 10th May due to the legal notice imposed by the Covid-19 restrictions. This scheme will also include assistance to businesses in their rent and electricity bills, which had to close their operations as a result of the legal notice issued in March 2021.
“The schemes announced today are a continuation of the vision launched over the past months. This is the start of several measures aimed at ensuring that no one is left behind,” said Minister Miriam Dalli.
“We are looking at preparing businesses for tomorrow, supporting the investments they want to do by launching several initiatives to assist and encourage businesses to be innovative, sustainable and resilient.”
Malta Enterprise CEO Kurt Farrugia explained how the process has been simplified.
In the case of the One-Time-Grant, this will support businesses that remained closed after 10th May 2021 and were receiving the wage supplement. The cash grant is €1,000 and an email will be sent containing a link to a simple application. Malta Enterprise will simply process the grant in due course, with funds being received directly in the client’s bank account. This investment reaches €1 million.
Businesses which had to close down their operations as a result of legal notices issued in March 2021 are eligible for the Rent Refund Scheme. Malta Enterprise estimates that some 2,000 businesses will be benefitting from €7 million. These businesses will now be eligible for a top-up of 50% on the amount received last year.
In the case of the electricity refund scheme, the assistance will amount to €4.1 million and covers 50% of the electricity bill of June-July-August 2021. An email will be sent through which the eligible applicants will be directed to the application.