According to Economy Secretary Ken Skates, the Development Bank of Wales is on course to open in the first half of this New Year.
The aim of the new bank is to provide more than £1 billion of investment support to Welsh businesses across the next five years, and to help micro and medium businesses gain access to finance, support and management advice.
By 2022, the Development Bank will create over 5,500 jobs and will be tasked with increasing annual direct investment by £80m.
A detailed business plan has been drafted and the Welsh Government are currently working with their partners to ensure they fully meet the needs of businesses across the country.
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