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EU: Commission clears set up of Malta development bank

By  |  August 24, 2016

The European Commission said on Wednesday it had cleared the creation of a development bank in Malta, which will finance small businesses and infrastructure projects.

Malta said in July it would set up such a bank, inject 200 million euros in capital and allow for tax exemptions and guarantees of about 55 million euros.

The Commission said that the bank would not compete with the private sector and was therefore not in breach of EU competition rules.

Full Content: Reuters

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