Development Bank of Wales Secures Over 50,000 Jobs as It Reaches £1bn Investment Milestone
Development Bank of Wales Secures Over 50,000 Jobs as It Reaches £1bn Investment Milestone
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The Development Bank of Wales has passed a major milestone after confirming it has created and safeguarded more than 50,000 jobs across the country, supported by £1 billion of investment since 2017.
Backed by the Welsh Government, the Bank announced that its investments in equity, debt and property have supported 51,089 jobs, generating £5.8 billion in jobs-based GVA, almost a sixfold economic return.
Its investments have also helped unlock £636 million in private sector co-finance, extending its reach across the Welsh economy.
Since its launch, the Development Bank has delivered 5,184 investments to 4,699 businesses through a range of funding programmes. This includes £89 million invested into 292 innovative tech ventures, as well as £275 million deployed to Welsh property developers to build 2,302 new homes.
The impact has been felt across all regions of Wales. In North Wales, 1,078 businesses have benefited from £240.4 million invested directly by the Bank, alongside £135.3 million in co-investment.
Mid and West Wales has seen £323.4 million invested and £143.2 million in co-finance for 1,399 businesses. South East Wales has received £436.5 million in investment and £375.5 million in co-investment for 2,222 businesses.
Rebecca Evans, the Welsh Government Cabinet Secretary for Economy, Energy and Planning, said:
“If companies are to grow, it’s vital they can access finance. Since we set up the Development Bank in 2017, it has acted as a social impact investor, making sure its investments support our priorities, from encouraging entrepreneurship to building a greener economy.
Reaching the £1 billion milestone makes me proud of the Bank’s role in driving economic development. By securing 50,000 jobs, the Bank shows how targeted investment can open up opportunities and support inclusive communities across Wales.”
First Minister Eluned Morgan said: “The Development Bank is part of the support we offer for companies that want to expand and innovate. Wales is a great place to set up a business or invest in projects and this is part of the message I shall be sharing with delegates from across the globe at the Wales International Summit in December.”
Hon. Group Captain Sally Bridgeland FIA, Chair of the Development Bank, said: “Our investments have supported thousands of businesses at every stage of their growth journey — driving productivity, innovation, and job creation.
“With teams embedded across Wales, we take a relationship-driven approach that contrasts with the more transactional nature of traditional finance. These results demonstrate the power of sustainable capital to deliver long-term economic value; bringing ambitions to life and delivering economic benefits for people, businesses and communities across the whole of Wales.”
Giles Thorley, Chief Executive of the Development Bank, added: “As we approach the Wales Investment Summit, this milestone reflects the transformative impact of our work since 2017.
“I’m incredibly proud of the footprint we’ve built, reaching every part of Wales. This achievement is a testament to the hard work and ambition of the businesses and entrepreneurs we’ve supported and their drive and ambition. I also want to recognise the dedication of my colleagues, whose personal commitment continues to deliver real impact in communities across the nation.
“By leveraging £636 million in private co-investment and deploying recyclable funds, we’re building a legacy of growth and resilience for future generations. £1 billion invested in Welsh businesses is £1 billion driving Wales forward—fuelling ambition, powering innovation, and unlocking opportunity in every town and city across our nation.”
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