Members of the Scottish parliament have confirmed the missions, which are intended to ensure that the bank addresses the ‘grand challenges’ facing the country.
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, 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.”