The Development Bank of Wales is expected to launch new funds to support firms in particularly hard pressed sectors as a result of the pandemic this autumn, Economy Minister Ken Skates has confirmed.
The development bank, which is wholly-owned by the Welsh Government, has now fully invested its £100m Covid-19 loan scheme to SMEs, following its launch in March. New funds are expected to be sector specific, like tourism.
Mr Skates said consideration was given to refinancing the development bank’s Covid loans with other financial providers, as well as its other existing loan and equity book, potentially with an institutional investor [s], to provide new finance.
