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Monday, May 21, 2018

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Welsh businesses secure £68m from development bank

Jordan Williams | 5:00 Wednesday 16th May 2018

The Development Bank of Wales has reported that it has increased investment in Welsh businesses by £11.5m.

The development bank’s results for 2017/18 have revealed that £68m was invested in Welsh businesses, compared with £56.5m in 2016/17.

A further £70m was also leveraged from private sector funds.

A total 234 businesses in Wales received funding from 1st April 2017 to 31st March 2018, resulting in the creation or safeguarding of 3,930 jobs.

The development bank now manages over £1bn of funds, including £454m for Help to Buy – Wales.

“This has been a busy and fruitful year for all of us at the Development Bank of Wales,” said Giles Thorley, chief executive at the Development Bank of Wales (pictured above).

“Our annual figures show that our role is essential to support the appetite for finance and growth in the Welsh business economy.

“With our new headquarters already secured in Wrexham, we’re looking to expand our reach across all regions of Wales.

“Directly supporting the Economic Action Plan, our teams also work in partnership with the rest of the Welsh business community, investing in companies and property developments as well as helping more than 1,937 homes this year through our Help to Buy – Wales team.”

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