Latest news with #DevelopmentBank
Business News Wales
a day ago
- Business
- Business News Wales
Celebrating Pride Cymru: A Commitment to Inclusivity and Positive Change
I'm looking forward to joining my colleagues at the Development Bank of Wales in celebrating Pride Cymru in Cardiff this weekend. Events like Pride Cymru hold real significance, standing as a beacon of visibility, unity, and advocacy for the LGBTQ+ community. They remind us that equality is not a passive ideal but something that must be continuously nurtured and defended. Whether through the efforts of campaigning individuals or the support of public institutions and large employers, Pride embodies the power of solidarity and progress. Throughout my time at the Development Bank of Wales, since starting with Finance Wales in 2002, I have been incredibly proud of how we embrace equality, diversity, and inclusivity. These values are not just words in a strategy document but are actively embedded in everything we do, shaping our workplace, our partnerships, and the communities that we serve. From the support we provide to our employees and colleagues to the entrepreneurs and business owners that we fund, we champion fairness, accountability, and transparency. The Development Bank is more than just a financial institution—we are a force for positive change, using our influence to foster an environment where everyone can thrive. Our commitment to ethics and social responsibility drives us to be purposefully engaged in Environmental, Social, and Governance (ESG) principles. It's not just about business; it's about doing what's right. This commitment is clearly reflected in our recruitment strategies. In 2024/25, one-fifth of all our new starters came from ethnic minority backgrounds—well above the national average of six per cent. It's this kind of intentional inclusivity that matters, not just for our workforce but for the LGBTQ+ community and our allies. When organisations take active steps to build diverse workplaces, they send a powerful message: You are seen, valued, and supported. We also recognise that true inclusion goes beyond hiring; it's about continuous growth and development. That's why we prioritise personal and professional growth. Being named one of the UK's Best Workplaces for 2025 by Great Place to Work was a proud moment for us, as was receiving their Development Award—a recognition of our commitment to helping employees become the best version of themselves. One shining example of how we support diversity in business is Freya Curtis, a determined 21-year-old entrepreneur who opened Merthyr Tydfil's first LGBTQ+ themed bar, Sparkles, with the help of a £35,000 loan from the Development Bank. Sparkles, which hosts live shows, karaoke nights, and drag performances, has quickly become a popular space for the local community—providing not only entertainment but also a safe and inclusive environment for everyone. Through her vision, Freya has created a hub of celebration and connection while generating local jobs, demonstrating how empowered entrepreneurs can make a real difference. The Development Bank of Wales is more than just a workplace; it's a place where people, businesses, and communities flourish. As we come together for Pride Cymru, I'm reminded that progress is never a solo journey—it's a collective effort. By celebrating diversity, amplifying voices, and standing up for what's right, we move forward, together. I am proud to be part of that journey. You can find out more about the Development Bank at
Business News Wales
5 days ago
- Business
- Business News Wales
Tredegar Business Transitions to New Ownership with Development Bank Equity Backing
John Babalola, Development Bank of Wales; Dominic Thew, Atal; Scott Hughes, Development Bank of Wales. Dominic Thew, general manager of Tredegar-based Atal UK, has completed a management buy-out of a structural and basement waterproofing business in a deal that has been part-funded by a seven-figure debt and equity investment from the Development Bank of Wales. Atal UK was established in 2012. Based on the Tafarnaubach Industrial Estate, the company now employs 19 people and provides structural and basement waterproofing services along with ground gas protection solutions for architects, contractors and groundworkers throughout the UK. Dominic joined Atal in 2015. He will take over from business founder David Rees. Dominic Thew said: 'I've worked alongside David over the last ten years to help build Atal as a leading UK provider of structural and basement waterproofing services. Using the most advanced materials available, we offer a comprehensive range of value driven and cost-effective bespoke solutions for individual projects. We also provide expert onsite training with regular site inspections to help the installers throughout the work. 'We have always invested in our people who have played an important role in our journey to date. As a team, most of whom are local, we're proud of our reputation where we encourage one another to grow themselves and now look forward to growing the business alongside the support of Simon as our new Chair and the Development Bank as our investment partner.' Scott Hughes, Senior Investment Executive with the Development Bank, worked on the deal alongside Investment Executive John Babalola. Scott said: 'It's great to be able to support a long-standing employee to take the reins at Atal, an established business providing essential, legally-required services to the construction industry. This buyout not only preserves the company's legacy, but also safeguards jobs and ensures continued service excellence for their clients.' The deal was also supported by Alex Butler at Geldards; Stephen Thompson at Darwin Gray; and Tanya Wilson, formerly of Haines Watts. The investment by the Development Bank came from the £25 million Wales Management Succession Fund. Financed by Welsh Government and the Clwyd Pension Fund, loans and equity investments between £500,000 and £3 million are available for management teams seeking to own and run their own business. Terms range from one to seven years.
Cambrian News
10-06-2025
- Business
- Cambrian News
Six-figure investment gets cliff railway back on track
Robert Gray, Director of Constitution Hill Limited said: 'Our railway is an iconic attraction and an important part of local heritage. It's enjoyed by thousands of visitors each year, most of whom go on to spend time and money in the local area. The support of Welsh Government and the funding from the Development Bank has made the biggest difference to the future sustainability of the railway; allowing us to carry out essential maintenance work and invest in our facilities for the benefit of local people and visitors alike.'
Reuters
07-06-2025
- Business
- Reuters
Latin America's development bank CAF doubles investment target for marine ecosystems
June 7 (Reuters) - The Development Bank of Latin America and the Caribbean said on Saturday it will invest $2.5 billion in the region's so-called blue economy by 2030 to ensure the sustainability of marine and coastal ecosystems. The new goal, announced on the sidelines of the Blue Economy and Finance Forum in Monaco, doubles the bank's previous target of investing $1.25 billion between 2022 and 2026. The bank has already committed $1.32 billion. Funded projects so far include marine sanitation initiatives in Ecuador, Brazil, and El Salvador, as well as energy transition efforts in Ecuador's shrimp farming sector, among others, the bank said in a statement.
Business News Wales
04-06-2025
- Business
- Business News Wales
£150,000 Investment Supports Restoration of Historic Cliff Railway Carriages
A £150,000 investment by the Development Bank of Wales in the Cliff Railway in Aberystwyth has put the iconic tourist attraction on track for a bumper season. 75,000 visitors are expected to experience the newly refurbished Victorian railway carriages this year. Run by Constitution Hill Limited, Aberystwyth Cliff Railway is the second longest electric funicular cliff railway in Great Britain at 778 feet long. It's been an Aberystwyth landmark since 1896 and was electrified in 1921 before becoming a Grade II listed structure in 1987. The loan from the Development Bank has been used to carry out essential maintenance work to the Victorian carriages. Having safeguarded 20 jobs and created two new jobs, the investment has been welcomed by the First Minister of Wales who visited the Cliff Railway with colleagues Huw Irranca-Davies MS, Deputy First Minister and Julie James MS, Minister for Delivery/Counsel General. Eluned Morgan, First Minister of Wales, said: 'Tourism is one of the most important industries in Wales, contributing over £6.2 billion to Welsh GDP and more than 172,000 jobs. 'I'm pleased the Welsh Government, via the Development Bank, is providing support so that attractions like the Cliff Railway can bring in visitors, create new jobs and continue their important contribution to the local economy in Aberystwyth.' The Victorian carriages are powered by motor and high-tensile steel cables supported by a sophisticated electronic safety system. They travel to the summit of Constitution Hill at four miles per hour, venturing through a deep cutting, where 12,000 tons of rock were excavated to allow the winding footpath to cross via a series of bridges overhead. Once at the top of the summit, visitors can enjoy spectacular views of Aberystwyth, Cardigan Bay and 26 Welsh mountain peaks. One of the world's largest camera obscuras offers a bird's eye view of 1000 square miles of land and seascape. There is also a children's play area, a gift shop, a cafe and plenty of open spaces for picnics and walking. Robert Gray, Director of Constitution Hill Limited, said: 'Our railway is an iconic attraction and an important part of local heritage. It's enjoyed by thousands of visitors each year, most of whom go on to spend time and money in the local area. The support of Welsh Government and the funding from the Development Bank has made the biggest difference to the future sustainability of the railway; allowing us to carry out essential maintenance work and invest in our facilities for the benefit of local people and visitors alike.' Clare Sullivan is a Regional Manager for the Development Bank. She said: 'The Cliff Railway is a well-established and popular tourism attraction that has continued to invest heavily with the introduction of indoor and weather resilient facilities to encourage visitors all year round. As an affordable day-out for the family, it's a must-do activity when in the local area so we're pleased to have been able to help keep it on track by funding the much-needed repair works.' The £150,000 loan for Constitution Hill Limited came from the £50 million Wales Tourism Investment Fund. Financed entirely by Welsh Government, the fund offers loans from £100,000 to £5 million with repayment terms of 10-15 years for distinctive, stand-out tourism projects that align with the priorities of Welsh Government.
