Scottish government to launch national investment bank

The Scottish government wants to have a publicly owned national bank up and running by 2020, with £2 billion committed for investment in businesses and communities across Scotland over ten years.

It has been widely reported that, despite growth, Scotland’s economy has fallen behind the rest of the UK. The Scottish Government sees the investment bank as an opportunity to boost growth throughout the country.

Research has found that businesses in Scotland often find it difficult to borrow money over a longer term (10 to 15 years). This new bank also hopes to provide long-term investment and help fund SMEs and strategic projects. The bank will support ambitious companies and important infrastructure projects. By aligning its aims and objectives with Scotland’s Economic Strategy.

The initial plans sets out a variety of products, including microloans for small enterprises, loans of up to businesses looking to scale up their operations and targeted debt support.

The values of a National Investment Bank

The bank will be a public body but will operate commercially and be operationally and administratively independent from government.

The Scottish Government have said they are committed to ensure that the way the Bank operates – its culture, governance, and approach to businesses and individuals – will define it as an ethical, inclusive and trusted institution The Bank will hold to the principles of equality; transparency; diversity; and inclusion.