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Welsh Government commits extra £30m for SME builders
The Welsh Government will commit an extra £30m to small and medium-sized (SME) house builders through its Wales Property Development fund.
Carl Sargeant, communities and children secretary for the Welsh Government, said the loan fund would give local companies greater access to affordable finance and help them to build more homes.
It comes after the Welsh Government unveiled a national strategy document on Tuesday outlining its priorities for the next four years.
The strategy, titled Prosperity for All, identified housing as one of the administration’s five key priority areas, with a focus on building more affordable housing.
The Welsh Government has a target to build 20,000 new affordable homes by 2021.
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Mr Sargeant said: “In working to meet our target, I want as many homes as possible to be delivered by SMEs, creating new capacity in this sector.
“I want to see people thinking innovatively about how we can do things differently to address the challenges we all face.”
The loan fund will be managed by Finance Wales, an SME investment vehicle set up by the Welsh Government.
Cenydd Rowlands, property fund manager at Finance Wales, said the extra cash would help provide “much-needed quality housing”.
