The core missions focus the bank’s activities on addressing key challenges and creating inclusive, long-term economic growth. This will enable the Bank to play a significant role in supporting Scotland’s economic recovery from coronavirus (COVID-19).

The proposed missions aim to support:

• The just transition to net zero emissions by 2045
• Creating opportunities and reducing inequalities
• Harnessing innovation in response to demographic challenges

The Bank is on schedule to launch by the end of the year and the Scottish Government has committed to capitalising it with £2 billion over ten years.

Economy secretary Fiona Hyslop, said: “The Scottish National Investment Bank provides a unique opportunity to influence the direction of Scotland’s economy. It will play an important role during recovery from COVID-19 through long-term investment in our businesses and communities.

“These proposed missions will steer the Bank’s investment strategy to address the big challenges facing Scotland - a very different ethos to that typically followed by private investment institutions. There is extensive support for this approach and a significant appetite from Scotland’s investment community to co-invest with the Bank.

“By supporting innovation, driving green development and promoting inclusive economic growth, the Bank can help deliver our vision of a globally competitive, sustainable and fairer economy. The Bank’s launch will lead a step change in our measures to boost Scotland’s economic growth.”