Minister for Culture, Lands and Local Government Owen Bonnici, together with Arts Council Malta, launched a new scheme which will reduce expenditures related to bank loans for Maltese and Gozitan musical societies. This scheme, for which €280,000 are allocated, has the aim of providing the tools to band clubs so that they can implement essential ameliorations, necessary renovations, as well as projects which help strengthen their role within the community.
Through this scheme, musical societies which decide to obtain loans from commercial banks will be able to benefit from an annual subsidy which covers 50% of the interest due on approved bank loans. This assistance is calculated on a maximum loan amount of €500,000 and can be provided for a maximum of ten consecutive years. This call works on a first-come, first-served basis till the 17th of November 2026, or until the funds are entirely allocated.
Musical societies which have had their home base bought by the government in order to avoid eviction because of the legal situation surrounding the rental laws prior to 1995 will not be able to benefit from this scheme.
Minister Owen Bonnici declared that, “Maltese musical societies have a long tradition of cultural service, and many of them are continuing to invest in modern facilities, musical education, and communitarian initiatives. Through this initiative, we are decreasing the pressure which high interest rates create when these societies undertake loans from commercial banks, while also fulfilling this government’s pledge to strengthen cultural structures in a practical and responsible manner. This step will assist band clubs to plan with more certainty, while at the same time ensuring that they remain an active part of cultural life in Malta.”
Arts Council Malta Executive Chairperson Dr Luke Dalli emphasised that this scheme will significantly reduce the financial burdens on band clubs when these undertake loans from commercial banks, while offering the necessary flexibility so that these organisations continue to strengthen. He explained that by leaving more in the band clubs’ coffers, the band clubs will be able to invest with more seriousness in their infrastructure, in renovations, in cultural work, and in the drafting of long-term plans to strengthen the future of the musical and communitarian sector in our country.
Only voluntary organisations registered with the Commissioner for Voluntary Organisations which are in full conformity with the law regarding voluntary organisations, which qualify as band clubs or musical societies, and which have a bank-approved loan or are in the process of obtaining one may apply.
The total session budget is €280,000, and the eligible period for interest on the loans covers from the 1st of January 2026 to the 31st of December 2035.
For the guidelines and eligibility criteria, visit https://artscouncil.gov.mt.