Review on Development Bank of Wales by Temitope Olowookere
Recorded Success: Development bank of Wales
Let me start by first explaining what a development bank is and then how "The development bank of Wales" have been successful in achieving it's goals through the years.
Development banks are banks which are set up for the sole purpose of providing infrastructure facilities for the industrial growth of a country, they provide financial assistance for both public and private sector industries, to create more employment opportunities, to improve capital market in the country amongst many others.
The Development Bank of Wales have in no way fallen short of the purpose of setting up a development bank as stated above. has four offices across Wales - Wrexham, Cardiff, Llanelli and St Asaph.
As at 31 March 2020 the Development Bank of Wales recorded about 30% increase in it's investments over the previous years by investing £103m into Welsh businesses as well as a private sector capital of £75.9m alongside its funds.
The development bank of Wales also helped in building and developing realizable business opportunities in Wales that will lead to the creation of new jobs for all as well as providing flexible finance for businesses based in Wales.
Pros
- Promotion of industrial growth and development.
- More employment opportunities have been created.
- They have successfully encouraged modernisation and improvement in technology
- More self employment projects have been promoted too.
Cons
- Nothing noticeable
