MORE than 100,000 jobs across Wales have been protected by during the coronavirus pandemic by the Economic Resilience Fund, says the Welsh Government.

To date, the fund has provided almost £300 million of support to more than 13,000 companies in Wales.

The fund is part of a £1.7bn support package for businesses, which builds on help available from the UK Government.

And further support will be provided to businesses through the autumn and winter, and to the end of the Brexit transition period, said economy minister Ken Skates, in the form of more flexible terms for firms borrowing from the Development Bank of Wales’ Flexible Investment Fund.

Mr Skates said the Economic Resilience Fund is unique to Wales and has provided "a much needed lifeline to more than 13,000 companies" through "incredibly challenging times".

“That support has helped to safeguard more than 100,000 jobs in companies across Wales. That’s 100,000 people whose careers and livelihoods might otherwise have been at risk," he added.

“We re-examined our budgets and made some tough decisions to establish the fund, but these figures clearly show the enormous difference it’s made.”


With the Flexible Investment Fund, the Development Bank will have discretion to extend the loan period for some companies to up to 15 years, helping them to spread the costs of their borrowing further.

The investment limit of the fund will also be doubled from £5m to £10m.

“These changes are another example of how we are listening and responding to business need," said Mr Skates.

"They will offer businesses increased flexibility, meaning they can access more financial support and having longer to repay - flexibility, which we know is welcome at this challenging time."

He said details will be announced soon on more measures designed to help businesses weather difficult economic challenges ahead.