Written question WQ97801
- Asked by
- Darren MillarConservative
- To be answered by
- Cabinet Secretary for Economy, Energy and Planning
- Tabled
- Due
- Answered
- Time to answer
- 7 days
Question
Will the Cabinet Secretary confirm how much in repayment the Welsh Government has received from its investments in the Development Bank of Wales in total?
Answer
Answered by Cabinet Secretary for Economy, Energy and Planning
The Development Bank of Wales has repaid £171 million of loans to the Welsh Government with further repayments of circa £300 million due to be repaid by the Bank in 2026.
The ability to continue recycling finance requires the Bank to have access to a long-term capital base. Each of the allocations of capital to the Development Bank of Wales have their own individual repayment profiles, taking into account the agreed use of the capital be it for short term, recycled, or long-term deployment.
Contracted repayments to Welsh Government are scheduled between 2026 and 2049. Although the ongoing position with HMT regarding its classification has impacted the pace of repayments, the Development Bank of Wales is on target to fully meet repayment terms across its portfolio of funds and services without any reduction in levels of investment.