A Development Agency for Wales
We will establish a National Development Agency for Wales which is fit for purpose as we approach the quarter point of the 21st century. This means a forward-thinking approach that will meet economic challenges into the 2050s and beyond, recognising a world of innovation, understanding both Wales’ needs and strengths, and being agile enough to respond to changing business landscapes.
We recognise the importance of accessing capital, and will reform the Development Bank of Wales. Our aim will be for the bank to take and profit from greater equity shares in emerging businesses and invest in infrastructure projects, functioning more like a real national development bank. We will also ensure that Welsh Government has the power to develop a community bank to provide local banking services to customers in communities where private banking institutions, such as the Big Four of HSBC, Barclays, Lloyds and NatWest have left the market, building on the work already undertaken by Banc Cambria.