SMSs need additional resources on digital transformation journey – EIB vice-president

Additional resources would be necessary to help SMEs embark on the digital transformation journey to improve competitiveness and performance, spur innovation and enhance productivity, the European Investment Bank vice-president Gelsomina Vigliotti said.

In an interview with this media house, Vigliotti said SMEs are facing various challenges including rising inflation as well as fuel and energy price increases.

It is therefore crucial to tap into the support of the SMEs to enable them to promote their green transition by investing in energy efficiency, which can address competitiveness challenges and improve energy security by reducing dependence on fossil-fuel imports, Vigliotti said.

The exclusive interview will be carried in full in The Malta Independent on Sunday on 11 September.

Vigliotti was in Malta earlier this week to take part in a hybrid conference entitled ‘Financing the transition to a carbon neutral economy’, held in collaboration with the Central Bank of Malta. She also attended an event in which it was announced that the EIB will be financing a €20 million project by Epic to accelerate the company’s network programme.

In the interview, Viglotti spoke about the assistance the EIB has provided Malta since 1979, how it has assisted Malta in the energy sector, and how it is helping countries facing the current challenges brought about by the situation in Europe.