MDB puts strategic partnership with business associations and trade unions to the fore

Last Updated on Wednesday, 6 March, 2024 at 9:10 am by Andre Camilleri

Strategic partnerships with social partners like business associations and trade unions are a pivotal element of the Malta Development Bank’s efforts to spearhead the nation’s carbon neutral and digital transition.

This commitment was reaffirmed during key meetings between the MDB Chairman, Mr Leo Brincat, and CEO Mr Paul V. Azzopardi, and representatives from the Gozo Business Chamber, Malta Employers’ Association (MEA), Malta Hotels and Restaurants Association (MHRA), General Workers’ Union (GWU) and UHM – Voice of the Workers. Meetings with the Malta Chamber for SMEs and the Malta Chamber of Commerce are also planned.

Throughout the discussions, held at the MDB premises in Floriana, representatives of the Bank highlighted its role in completing market gaps, particularly by supporting the financing of projects which under normal conditions would struggle to secure access to finance.

While providing tangible examples of how the MDB has helped finance innovative and future-proof projects in recent years, MDB Chairman Leo Brincat emphasised the critical importance of proactive engagement with stakeholders across diverse sectors. “As Malta charts its course towards a carbon neutral and digitally driven economy, the MDB is keen to serve as a catalyst for transformative change.” He added that “our engagement with business associations and trade unions reflects commitment to nurture an inclusive ecosystem that prioritises sustainable growth and equitable opportunities for all.”

Central to the discourse was the unique role of the MDB in providing targeted financial solutions and strategic guidance to businesses as they seek to embrace the challenges and opportunities of the carbon neutral and digital transition.

By fostering collaborative alliances with key stakeholders, the MDB aims to facilitate knowledge exchange, promote innovation, and catalyse investments that align with Malta’s overarching sustainability objectives.

Representatives from these social partners expressed their appreciation for the MDB’s proactive outreach and affirmed their commitment to advancing shared objectives in tandem with the bank.

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