Economic Development
About Economic Development
Economic development is the process by which the economic well-being and quality of life of a nation, region or local community are improved. The term has been used frequently in the 20th and 21st centuries, but the concept has existed in the West for centuries.
Rishi Sunak meets world leaders and tech firms at AI summit
... " We think about the countries that are facing opportunity in terms of their own Economic Development, as well as countries that bring to the table, serious technological know how, and it s hard to imagine how some of those conversations can happen without the full representation of countries around the world...
State-owned British Business Bank makes £147m annual loss
... The Economic Development lender says wider economic problems led to a drop in the valuation of businesses it has invested in...
'You're kind of raised to hate tourists': Maui fires bring island tensions to a head
... The Maui Economic Development Board has accounts for roughly four out of every five dollars generated here, calling those visitors the " economic engine" of the county...
Israelis seek opportunities abroad amid unrest at home
... " When the truly talented people who carry on their shoulders the innovation and the Economic Development that this country is so dependent on, when they decide they ve had enough and they don t want to live in a country that no longer represents them, then we could see a collapse, an economic collapse, " he says...
Hawaii fires: Jason Momoa warns tourists not to visit Maui
... The Maui Economic Development Board meanwhile says the significance of tourism is even greater, estimating that it directly or indirectly accounts for around 80% of all income generated on the island...
Moscow drone attacks: Residents shrug off skyscraper strikes
... Reports said that the section that was hit houses the ministry of Economic Development and that its employees have now been told to work from home...
Clacton: The place where one in five has never had a job
... Ivan Henderson, Tendring Council s cabinet member responsible for Economic Development, says: " There are a lot of jobs that are going to be coming on board for young people to actually take advantage of...
Rwanda asylum a risk to UK foreign policy, says ex-minister
... A government spokesperson told the BBC: " Our ground-breaking Migration and Economic Development Partnership will see those who make dangerous and illegal journeys to the UK relocated to Rwanda, where they will be supported to build new lives...
State-owned British Business Bank makes £147m annual loss
The state-owned British Business Bank (BBB) has swung to an annual pre-tax loss of More Than £147m.
The Economic Development lender says wider economic problems led to a drop in the valuation of businesses it has invested in.
The Bank says it made £1. 6bn of funding agreements in the year " despite the challenging economic environment".
BBB was Set Up in 2014 to lend money to and buy stakes in smaller UK businesses to help them start up and expand.
The Bank said the value of its investments fell by £146m, or 5%, in the 12 Months to The End of March. That compares to a gain of £619m in the previous year.
Around The World the valuations of technology firms have fallen in recent months as investors became increasingly wary due to rising borrowing costs and weak Economic Growth .
" Given the longer-term 10-year horizon for most of our investments we would expect an overall upward trajectory despite these in-year fluctuations, " The Bank 's chief executive Louis Taylor said.
Its total funding now stands at £12. 4bn to More Than 90,000 businesses, beating its £10. 7bn target, BBB said.
The figure does not include the Coronavirus loans which it administered.
The BBB is responsible for administering the government's three Covid-19 loan schemes and its Future Fund, together responsible for delivering More Than £80bn in finance to almost 1. 7 million businesses. The schemes are now closed to new applications.
The Future Fund attracted attention after investing taxpayer money in companies such as Bolton Wanderers Football Club and sex party organiser Killing Kittens.
The Bank 's Start Up Loans programme recently reached a milestone of £1bn in lending, with More Than half that going to small businesses run by women and Ethnic Minorities .
The scheme aims to help underrepresented groups who find themselves excluded from mainstream lenders to help them start businesses, and regions outside of London and south-east England.
Most the funding comes from lenders outside the UK's so-called Big Five banks.
Related TopicsSource of news: bbc.com
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