Driving Welsh Economic Growth
The Development Bank, a public finance institution owned by the Welsh Government, manages £2 billion in funds with a portfolio of 3,378 customers. It aligns its mission with Wales’ economic goals, supporting the transition to a low-carbon economy, financial inclusion, and entrepreneurial development. Notable investments in the first half of 2024/25 include:
- Lineat: A sustainable tech company recycling carbon fibre, relocated to Chepstow following a £1.4 million equity raise led by the Development Bank and Green Angel Ventures.
- Bwydydd Oren Foods: A Gwynedd-based fruit and vegetable wholesaler reduced carbon emissions with a 60MWh solar panel array and EV charging points, funded by a £60,000 Green Business Loan.
Leadership Perspectives
Sally Bridgeland FIA, newly appointed Chair of the Development Bank, remarked:
“Boosting growth and unlocking investment is a priority for governments in both Wales and Westminster. These half-year results demonstrate the difference that the Development Bank makes to the Welsh economy, supporting jobs and thriving communities throughout Wales.”
Chief Executive Giles Thorley added:
“We’re providing accessible funding to support the long-term sustainability of businesses while advancing ambitions for a green future in Wales. By continuously reviewing our processes, we’re ensuring Welsh businesses can easily access the funding needed for growth and innovation.”
The Development Bank remains a cornerstone of Wales’ economic strategy, fostering sustainable growth and supporting community well-being.