S.L. 463.31 Art. 3Loan interest rate subsidy.

(1) Where the Corporation is satisfied that an undertaking which carries out in Malta, an eligible investment project, as shall have been approved by the Corporation in accordance with the terms and conditions set out in the Guidelines, the Corporation may subsidise the rate of interest payable by the undertaking on loans which the said undertaking may take out in order to finance the procurement of qualifying tangible assets.

(2) The subsidy shall not exceed an interest rate equivalent to three percent (3%) per annum. In any case 1% of the interest rate charged by the bank must be paid by the beneficiary. Irrespective of the term of the loan the subsidy shall only be available up to the tenth

(10th) year from the date of the initial drawdown.

(3) Loans which qualify for the interest rate subsidy contemplated by this regulation shall be loans provided by banks licenced to operate in Malta.