British Business Bank told the reorientation of lending to the priority sectors of the government

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Ministers should refocus on lending to British Business Bank on small companies working in high -growth industries trying to put a financial muscle for a new industrial government strategy.

The Bank of Economic Development of the Government has been said to target eight sectors found in Industrial strategyAs Chancellor Rachel Reivz seeks to stimulate economic growth.

Officials informed about the plan, nominated the speech of the secretary Lisa Nandy Last month, when it announced that the BBB, which supports more than £ 17 billion for a smaller business, will increase support for creative industries.

A sector It is one of the eight high -growth industries covered by industrial strategy, as well as advanced production, pure energy, protection, digital and technology, financial services, life science and professional and business services.

Nandi said that the BBB “is obliged to increase its support for creative industries” and that the bank “informs us of its investments in creative industries so that we know that the impact is in the real world.”

One official informed about the charged industrial strategy, which should be published in June, said, “You can read through what Lisa Nandy said in other sectors in the industrial strategy and what we want to do the BBB.”

Although the BBB will continue to fund promising small companies in sectors that are not covered by industrial strategy, ministers want its financial firing force to focus on those areas that presumably represent the future of the UK economy.

Report Posted last month In the center of urban cities, the Analytical Center called on the government to focus on areas with clusters of companies exporting high -value sectors such as AI, advanced materials, fintech or life sciences.

The BBB was established in 2014 under the government of the Conservative Liberal Democratic Coalition with a resistant growth and a lesser business helping financing. Its main programs support more than 17.4 billion feet, almost 64,000 smaller enterprises.

The government takes a 100 percent shareholder in the bank, and ministers must sign their business plan, but the BBB can quickly decide what businesses to support.

British Business Bank said: “We are pleased to support the goals of the government’s industrial strategy through our programs that support great investment and lending in high-height sectors with potential for innovation, such as life sciences, pure energy, creative industry, financial services, and financial services, and Digital and technology. “

Riviz plans to deploy plans on separate sectors before the industrial strategy is officially published. “We can’t wait for June,” she told her colleagues. Earlier this month, she met banks to discuss the financial services strategy.