PM Robert Abela inaugurates the Bank of Valletta Centre Regeneration Project

“The environmental transition is the greatest economic opportunity to reach the next level”

“This project marks a crucial step in strengthening energy efficiency standards. This is the mindset I believe in — placing emphasis on sustainability that delivers quality.” This is how Prime Minister Robert Abela described the regeneration project of the Bank of Valletta Centre in Santa Venera during its inauguration. During the event, Abela also had the opportunity to meet with the Bank’s leadership and tour the investment undertaken.

In his address, the prime minister highlighted the importance of such projects and the responsibility of the financial sector to act as a catalyst for funding the green transition. “I ask — should the conditions offered by a bank for a loan to someone building a block of apartments without emphasis on energy efficiency be the same as those for someone constructing the same block with a focus on energy efficiency?” Abela remarked.

A shift toward quality in national budget

Prime Minister Abela also touched on the focus on quality being driven by Budget 2025. Among other measures, this includes the government’s decision to contribute to its employees’ private pensions. “This is a golden opportunity to expand a financial niche we created as a government back in 2016 — the niche of private pensions. This niche will not only provide greater income for our workers upon retirement but will also create substantial long-term savings funds that can be invested in Malta’s progress,” Abela explained, noting how this will enable the country to further prioritize investment quality and ensure a sustainable future.

Celebrating 50 years of the Bank of Valletta

Concluding his speech, the prime minister expressed satisfaction with the investment, coinciding with the Bank’s 50th anniversary. “That trust in the Bank remains strong today in this serious Maltese institution. Congratulations, not just for another 50 years of service and work in the financial sector, but for many more years of commitment. A commitment that is born right here, from this regenerated base we are inaugurating today,” Abela said.

During the inauguration ceremony, Bank CEO Kenneth Farrugia addressed attendees, thanking employees for their collaboration over the two and a half years of the project, which ensured the Bank’s operations continued without disruption. He noted that nearly 40% of employees can now work remotely without needing to be physically in the office.

Meanwhile, BOV Chairman Gordon Cordina emphasized that this investment reflects the Bank’s commitment not only to honor its history of success but also to renew and adapt to the evolving needs of the financial sector.