First Minister launches Scottish National Investment Bank.

The Scottish National Investment Bank has officially opened for business with the completion of its first major investment. It is the UK’s first mission-led development bank and it is being capitalised by the Scottish Government with £2 billion over ten years. The bank’s proposed missions will focus on supporting Scotland’s transition to net zero, extending equality of opportunity through improving places, and harnessing innovation to enable Scotland to flourish. It will provide patient capital – a form of long term investment – for businesses and projects in Scotland, and catalyse…

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Scotland looks at creating an ethical publicly-owned investment bank

A Scottish National Investment Bank is one step closer, following the publication of the implementation plan. Developed by Benny Higgins, CEO of Tesco Bank, the plan has recommendations covering the remit, governance, operating model and financing of the new bank. The plan recommends that the bank should: Be publicly-owned and mission-driven, focused on supporting Scotland’s economic priorities and promoting inclusive growth Operate in an ethical and transparent way Cowork to crowd in, not crowd out, private sector investment Be supported by long-term capitalisation of at least £2 billion over the…

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