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Finance Wales plc
Finance Wales plc provides commercial funding to small and medium-sized businesses throughout Wales, enabling them to realise their growth potential for Innovation and growth. A subsidiary of the Welsh Assembly Government, Finance Wales manages funds of more than £130million; has invested more than £110million through more than 2000 investments into Wales-based businesses and leveraged an additional £322million private sector investment.
A new £150m fund which will support the expansion of more than 800 businesses and create up to 15,000 jobs across Wales was launched on Friday 24 April 2009 using £75m funding from the European Investment Bank under the EU’s JEREMIE (Joint European Resources for Micro to Medium Enterprises) initiative and a further £60m from the Welsh Assembly Government, via the European Regional Development Fund resources.
The funding – the first JEREMIE fund to be launched in the UK, will enable Finance Wales plc, a commercial funding provider to small and medium sized business in Wales, owned by the Welsh Assembly Government, to make debt and equity investments in growing businesses throughout Wales.
The fund is particularly important in the current economic climate in enabling the creation and expansion of small enterprises and encouraging regional economic growth.
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