24 May 2006

The Web
Business Today

Gozitano members to benefit from new BOV financing package

Bank of Valletta has launched a new financing package tailor made for the members of the Koperattiva Agrikola Ghawdxija, Gozitano Ltd. The package was launched during a visit by BOV Chairman, Roderick Chalmers and BOV CEO, Tonio Depasquale to the offices of the Kooperativa.
The BOV Package includes three loan products, namely, an Agriculture Machinery and Equipment Loan up to a maximum of Lm20,000; a Farm improvement loan up to a maximum of Lm100,000 and a Growth Loan up to a maximum of Lm300,000.
“We hope that the new financial packages that BOV is making available to the members of Gozitano will enable the Koperattiva to continue to increase quality, efficiency and income,” said Tonio Depasquale. “This tailor-make package shows how BOV is being supportive to its customers by offering financial products and solutions that add value and meet the specific needs of particular segments,” he added.
BOV’s Chairman and Chief Executive Officer were welcomed to Gozitano, in Xewkija, Gozo, by Dr Joseph Grech, Manager of Gozitano and by Martin Camilleri, Chairman of the Koperattiva.
Dr Grech explained how Gozitano was born as a co-operative in Gozo in the early 1960’s with the intention of seeking the common interests of the Gozitano farmers. The only shareholders of Gozitano are the farmers who add up to over 1000 with active members amounting to just under 500 farmers.
The Gozitano co-operative is headed by a committee of 9 persons, all experienced farmers. Following the accession of Malta in the EU, Gozitano formed a Producers Organisation in order to secure EU funding from both the operative programmes as well as from structural funds. Dr Grech announced that in 2005, EU funding amounted to over Lm70,000 and the funds have been used to invest in a grading station with Gozitano being in the process of opening a new retail outlet to sell its products directly to the public.
Besides running its own activities, the Gozitano Cooperative has a number of garages leased to private entrepreneurs involved in the agricultural industry. These include Casa Funghi Ltd, a company producing mushrooms, Gozo Cottage Products Ltd, a new company producing limoncello and olive oil, winemakers, ice-cream makers, and others.
Members of the Koperattiva Agrikola Ghawdxija, Gozitano Ltd may obtain full details about these new financing options from BOV’s Branch in Victoria Gozo which may be contacted on telephone 2155 1113 or 2155 2930.

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