Development Bank of Wales

Inquiry4

The Economy, Trade, and Rural Affairs Committee has been set up by the Senedd to look at policy and legislation, and to hold the Welsh Government to account in specific areas. These areas include business, economic development, skills, international trade, agriculture, fisheries and food.

The Committee undertook an inquiry into the Development Bank of Wales.

Terms of Reference

In particular, the Committee considered:

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>>>The overall performance of the Development Bank of Wales since it was established in 2017, including areas of success as well as any areas of under-performance.

>>>The extent to which the Development Bank has met the specific objectives as set out in The Development Bank of Wales – a strategic asset for a more prosperous Wales, published in July 2017 and in the ‘Term of Government remit letter’ for the Development Bank published in November 2021.

>>>Exploring examples of global best practice and to understand how the Development Bank of Wales compares with other similar sized development banks – in terms of scale of funds, types of support provided and impact etc.

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Report

The Committee published its report – Development Bank of Wales – on 12 July 2024 (PDF 602KB)

Welsh Government’s response (PDF 262KB)

Development Bank of Wales’ response (1) (PDF 231KB) – 4 September 2024

Development Bank of Wales’ response (2)  (PDF 220KB) – 29 October 2024

A debate was held in Plenary on Wednesday 27 November 2024