Scottish National Investment Bank

The Scottish National Investment Bank is a Scottish state owned investment and national development bank based in Edinburgh, founded in November 2020 as a public corporation wholly owned by the Scottish Government. Despite its name it does not take deposits or conduct traditional banking, but instead uses about two billion pounds of public money to fund commercial projects across Scotland with the aim of drawing in further private investment, under a mandate set by the Scottish National Investment Bank Act 2020 that focuses on helping Scotland reach net zero carbon emissions while supporting small and medium sized enterprises. It reports to the Cabinet Secretary for Finance and the Economy. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/