Finance Wales announces pot of £150m to back businesses
Thursday 30 April 2009
FINANCE Wales has announced a pot of £150m for the next five years.
These monies were secured by backing from the European Investment Bank (£75m), the Welsh European Funding Office via the European Regional Development Fund (£60m) and the remaining £15m coming from existing Finance Wales capital.
The new all-Wales fund will run for five years.
In addition, Finance Wales can now exceed its current limit on equity deals of £1m, up to £2m.
Finance Wales will also look to make more co-investments with other commercial investors and it will also be able to make loans into businesses starting from £5,000 up to £1m.
Investments from the fund can be made with immediate effect.
Further Information
Finance WalesWestern Mail article