Fiona Hyslop, economy secretary

The missions have been confirmed to the Bank after being approved by MSPs.

They state that the bank should:

• Drive the move towards net zero emissions. The Bank will invest to help Scotland become a leader in sustainable technology, services and industries
• Promote inclusive growth through investment in areas such as employment, housing, education and local regeneration
• Address demographic change and enable people to flourish by investing in innovation which helps businesses and organisations
• Increase productivity, raise skill levels and develop a healthier population

In a statement to parliament yesterday, economy secretary Fiona Hyslop, said: “The launch of the Scottish National Investment Bank is the single biggest economic development in the lifetime of this parliament. These missions address the grand challenges facing Scotland – the issues we know we must face to build a sustainable future.

“They will provide finance and catalyse private investment to achieve a step change in economic growth by powering innovation and accelerating the move to a net zero emissions, high-tech, connected, globally competitive and inclusive economy.

“The Bank is uniquely placed to address the challenges facing us by providing patient capital to support long term economic growth. Its mission-orientated approach provides an opportunity to influence the direction of economic recovery in the interests of the people of Scotland.”