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Growth Guarantee Scheme
11 February 2025
Type
Written Ministerial Statement
Department
Department for Business and Trade
At a Glance
Issue Summary
Gareth Thomas outlines details of a new variant of the Growth Guarantee Scheme (GGS) aimed at supporting businesses in investing in green technologies.
Action Requested
The British Business Bank will reallocate funding from the existing GGS to pilot this scheme with a single lender, facilitating an initial portfolio of £30 million. The total maximum lending facilitated across both GGS variants remains unchanged at £2.2 billion.
Key Facts
- The original GGS was launched on 1 July 2024.
- Lenders offer facilities of up to £2 million under the existing scheme.
- A pilot portfolio of £30 million will be facilitated for green asset investment.
- The total maximum lending across both variants remains at £2.2 billion.
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