Parents who both work in the private sector requiring one of the parents to stay at home to take care of school-aged children will receive a direct payment of €166.15 per week if working fulltime or €103.85 per week if working part-time provided that they cannot carry out their functions through teleworking arrangements. This measure also applies for single parent families who have school-aged children.
Parents of Children with disability who are over 16 years of age are also eligible to apply for the parent benefit.
Malta Development Bank ‘COVID-19 Guarantee Scheme’
The MDB COVID-19 Guarantee Scheme (CGS) provides guarantees to commercial banks in order to enhance access to bank financing for the working capital requirements of businesses in Malta facing a sudden acute liquidity shortage as a result of the COVID-19 outbreak.
The CGS has been approved by the European Commission under the Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak. All business loans sanctioned under the CGS benefit from an interest rate subsidy of up to 2.5% during the first two years of the loan. CGS loans are entitled to a minimum moratorium period of 6 months with the possibility that the commercial bank may extend the moratorium to one year on a case-by-case basis. The moratorium applies to both interest and capital repayments.
The maximum moratorium on CGS loans is being extended by an extra six months to 18 months at the discretion of the commercial bank. Please contact your local bank for assistance.
Further details on this scheme can be accessed through the website of The Malta Development Bank: https://mdb.org.mt/en/Schemes-and-Projects/Pages/MDB-Working-Capital-Guarantee-Scheme.aspx