27 April - 3 May 2000

HSBC and IPSE sign cooperation agreement

by Franco Aloisio

HSBC and the Institute for the Promotion of Small Enterprises (IPSE) yesterday entered into a cooperation agreement which will provide added impetus to Malta's current industrial restructuring efforts.

While announcing the agreement, IPSE chairman Lino Callus and HSBC chief executive Tom Robson said HSBC will be the sponsor of IPSE's training programmes and will provide various services and support to small enterprises. These include loans at preferential interest rates to those enterprises wishing to take up IPSE's Loan Guarantee Scheme. HSBC will consider opening up its extensive worldwide customer base to IPSE clients, seeking to tap new export markets or wishing to link up with foreign counterparts by establishing strategic alliances.

HSBC is also offering assistance to those firms wishing to obtain foreign assistance. The bank is the sole representative of the Bonn-based Senior Experten Service (SES) in Malta. SES mobilises retired professionals to offer a diversified and vast range of assistance.

"HSBC is fully committed to assist the development of the Maltese industry which is characterised by a large number of small- and medium-sized enterprises. This agreement is the first step towards this aim and encompasses various areas of collaboration between the bank and IPSE," Mr Robson said.