Scotland’s new National Investment Bank will help encourage economic growth in the north-east, one of the region’s MSPs has claimed.
The bank, which opened for business this week, is being backed with £2 billion of funding from the Scottish Government.
It has already begun investing in local businesses and communities, and is also aimed at helping Scotland reach its climate change targets.
The scheme has been welcomed by Aberdeenshire East MSP Gillian Martin.
She said: “The Scottish National Investment Bank will help us tackle some of the biggest challenges we now face, as we transform, grow and decarbonise Scotland’s economy.
“This is of particular importance for the north-east which is still so reliant on oil and gas for so many people’s jobs.
“We urgently need to transition. I’m delighted that bank will invest in firms and community projects that are looking to play their part in tackling the global climate emergency, and the north-east has a long tradition of the skills and experience we need to make this happen, and grow a sustainable jobs market here.
“With this support our local small businesses will continue to be the backbone of the north-east economy. Local innovators took advantage of the discovery of oil and gas in the 1970s – now it’s time for us to grow new businesses out of the low carbon economy.
“The energy and agricultural experience we have locally ideally places businesses in Aberdeenshire to lead the transition to low emissions, and I look forward to seeing the bank’s positive impact in our area.”