Brussels, 24/07/2012 (Agence Europe) - The European Investment Bank (EIB) and Malita Investments p.l.c have announced the signing of a €40 million finance contract which, alongside other sources of funding, will be used to finance the construction of the new parliament building and the open air theatre. The finance contract was signed in Malta by the EIB representatives and the chairman of Malita Investments p.l.c. on 20 July. By way of the loan agreement, Malita will secure two EIB loan facilities: a first loan of €25 million over 20 years, and a second of €15 million over 25 years. Other funding resources will also be used for the projects, including the issuance of Malita shares, opening 23 July.
EIB underlines in a press release that the project is “one of the major public infrastructure projects promoted by the Maltese government in recent years and is in line with the EIB's financing priorities (….) expected to improve the urban environment and to contribute to the regeneration and revitalisation of the country's capital, a UNESCO world heritage site”. (OL/transl.jl)