European Regional Development Fund, Cohesion Fund

The European Regional Development Fund (ERDF) and the Cohesion Fund (CF) Programme for Malta for the 2014-2020 period, being Operational Programme I – Fostering a competitive and sustainable economy to meet our challenges – 2014-2020, aims to strengthen the productivity of enterprises, boost research and innovation, enable the shift towards a more low-carbon and environmentally-friendly society, foster health and social development and increase education attainment in line with Malta’s ambition to contribute towards the Europe 2020 targets for smart, sustainable and inclusive growth.

The focus on economic growth will create more and better jobs, increase home-grown Research & Development (R&D), enable Small and Medium Enterprises (SMEs) to be more competitive and delve into new markets, foster entrepreneurship and encourage new start-ups and, further consolidate Malta’s achievements in Information and Communication Technology (ICT).

The emphasis on environmental sustainability through ERDF will increase Renewable Energy Sources (RES) and energy efficiency in buildings as well as promote a shift towards a low-carbon transport sector. Sustainable urban development will also be targeted in a holistic manner through measures for social inclusion and an improved urban environment. Moreover, specific attention will also be given to the preservation and development of Malta’s natural and cultural heritage. CF resources will be focusing on ensuring water quality and supply, sustainable water management as well as the development and upgrading of the TEN-T network.

This Programme focuses on social inclusion whereby interventions will focus on promoting healthy lifestyles, addressing poverty and social exclusion, including through a shift towards health and social community-based services, and increasing educational attainment in further and higher education (including Vocational Education and Training (VET)).

Financial information

​Total OP budget: €676,521,971.00

EU Co-Financing Rate: ERDF (80%); CF (85%)

Smart Finance for Smart Buildings (SFSB): Investing in energy efficiency in buildings – Financial Instrument

This financial instrument is financed through Operational Programme I – Fostering a competitive and sustainable economy to meet our challenges – 2014-2020.

The SFSB initiative is aimed at making energy efficiency investments in both commercial and residential buildings more attractive to private investors, through the intelligent use of EU funds as a form of guarantee. The instrument’s  main objective is to provide better access to finance for both private individuals and enterprises through capital relief and loss protection via the provision of a capped guarantee for investments related to the building envelope (e.g. insulation, windows & doors and other thermal performance measures) and investments related to the building system (e.g. domestic hot water, cooling systems, Building and Energy Management Systems).

The need for a Financial Instrument was established following an ex-ante study which confirmed the financing gap in the household and corporate sector in Energy Efficiency (EE) and Renewable Energy (RE) initiatives. The study proposed solutions to maximise the impact of public support though the implementation of a Financial Instrument which could help in filling the financing gap by:

  • Supporting the credit system in providing resources to EE/RE initiatives by using EU funds as a capped guarantee (e.g. reducing the risk of these transactions);
  • Helping households and enterprises by offering better conditions to access finance for EE/RE;
  • Complementing other public support schemes, reducing grant dependency of EE/RE initiatives and therefore maximise the grant impact. 

The instrument is being implemented in collaboration between the Managing Authority and the European Investment Fund. The commercial bank that will act as a Financial Intermediary was  chosen following an open Call for Services. 

Financial Information

Total Budget:€15M of ERDF financing

EU Co-Financing Rate: 80%  

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