€2.5 million rent subsidy scheme extended to SMEs facing rising transport costs

Enterprise Minister Miriam Dalli says the government is committed to make up for a huge part of the rising transport costs of SMEs during the pandemic

Enterprise Minister Miriam Dalli (Photo:DOI)
Enterprise Minister Miriam Dalli (Photo:DOI)

Enterprise Minister Miriam Dalli announced an extension of the rent subsidy scheme launched in May 2020, which will now include small and medium businesses (SMEs) facing a steep rise in transport costs.

“The government is committed to working hand in hand with enterprises by making up for a huge part of the rising transport costs,” Dalli said. 

She explained how up till now only businesses dealing in manufacturing and motor vehicles maintenance were eligible, and is now extended to all SMEs that had to increase their storage operations due to the international shipping crises. 

“The government kept the energy prices stable during crisis. The rising gas energy prices led to 200% increase in electricity costs all over Europe," Dalli said. When asked about the energy prices in the long run, Dalli stated that according to predictions, prices will stabilise after April 2021. 

Kurt Farrugia, CEO of Malta Enterprise, explained how the scheme will offer up to €25,000 in assistance to each business for a period of 12 months, covering up to 50% of rental and investment costs. Each business can only be eligible for a maximum of three years.

“The scheme has a budget of €2.5 million and applications will remain open until 31 December 2020," Farrugia said.