Scottish National Investment Bank - Implementation Plan
The Implementation Plan for the Scottish National Investment Bank was launched on 28th February by Benny Higgins, CEO of Tesco Bank and Nicola Sturgeon, First Minister of Scotland. It was confirmed that the bank would adopt a mission-led approach to market and be both ethical and inclusive. Recommendations include a £10bn capitalisation over ten years with the aim of transitioning to a self-sustaining model in the longer term. The proposed product range includes micro-loans for SME’s, funding of up to £10m for scale-ups and targeted debt support. The bank will target support at “big ideas” such as the transition to a high-tech, low carbon economy and organisations which wish to invest in innovative technologies and solve global issues.
The recommendations include an expectation that the Board and Executive Management Team will be gender-balanced and assessing how the bank could play a role in tackling access to finance for women-owned businesses. Access the full Implementation Plan here http://www.gov.scot/Publications/2018/02/5676