First Minister Nicola Sturgeon has officially launched the Scottish National Investment Bank.<\/p>\n
It will be backed by \u00a32bn of Scottish Government funding over the next decade <\/p>\n
Scot Gov: “It will help to tackle some of the biggest challenges Scotland faces now and in years to come, delivering economic, social and environmental returns.”<\/p>\n
(SCOT GOV PRESS RELEASE via www.gov.scot)<\/strong><\/p>\n The Scottish National Investment Bank has officially opened for business with the completion of its first major investment.<\/p>\n It is the UK\u2019s first mission-led development bank and it is being capitalised by the Scottish Government with \u00a32 billion over ten years.<\/p>\n The bank\u2019s proposed missions will focus on supporting Scotland\u2019s transition to net zero, extending equality of opportunity through improving places, and harnessing innovation to enable Scotland to flourish.<\/p>\n It will provide patient capital \u2013 a form of long term investment \u2013 for businesses and projects in Scotland, and catalyse further private sector investment.<\/p>\n Today\u2019s \u00a312.5 million investment in Glasgow-based laser and quantum technology company M Squared will support the company\u2019s further growth in Scotland and speaks to the bank\u2019s proposed core missions.<\/p>\n First Minister Nicola Sturgeon said:<\/p>\n \u201cThe Scottish National Investment Bank will help to tackle some of the biggest challenges we face now and in the years to come, delivering economic, social and environmental returns.<\/p>\n \u201cIt is hitting the ground running with its first major investment in M Squared \u2013 a great example of the ambitious and innovative companies we have here in Scotland that will be key to our economic recovery and future prosperity.<\/p>\n \u201cThe launch of the bank is one of the most significant developments in the lifetime of this parliament, with the potential for it to transform, grow and decarbonise Scotland\u2019s economy.\u201d<\/p>\n Scotland\u2019s new National Investment Bank has officially launched <\/p>\n It will be backed by \u00a32bn of Scottish Government funding over the next decade <\/p>\n First Minister @NicolaSturgeon<\/a> says investments will be mission led with a focus on tackling climate change pic.twitter.com\/cV7iR0YhiQ<\/a><\/p>\n — Alan Smith (@Political_AlanS) November 23, 2020<\/a><\/p><\/blockquote>\n \n