'I've seen firsthand how development bank flexes to meet needs of Welsh economy'

NEXT month, the International Convention Centre Wales will host the biggest-ever business event in Wales.

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As we lead up to this major economic event (Wales International Investment Summit), I'm proud to share that the Development Bank of Wales has reached a significant landmark by investing over £1bn in equity, debt and property, creating and safeguarding over 50,000 jobs across the country.

It is important to celebrate milestones but what really matters is the wealth and variety of success stories behind the headlines.

Our team is deeply committed to evolving how we support Welsh businesses not just in times of growth, but especially through economic troughs, when our role becomes even more vital.

Having been in post for a year, I've seen firsthand how the development bank flexes to meet the needs of the Welsh economy.

When commercial providers pull back, we lean in. Our counter-cyclical approach ensures that businesses can access the capital they need to survive, adapt and thrive whether in times of uncertainty or opportunity.

This is particularly evident in our equity funding strategy. Equity is a powerful tool for nurturing entrepreneurship, and we've deployed £138m to date.

Our £2.8m investment in Reacta Healthcare in Deeside now a global leader in food allergy diagnosis is a prime example of how Welsh innovation creates jobs and reaches far beyond our borders. In fact, our investment in Reacta is one of 358 equity deals we have completed since 2017.

They have an average value of £380,000 evidence that equity isn't just for the big players.