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Welsh Development Agency

Volume 979: debated on Thursday 28 February 1980

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asked the Secretary of State for Wales if he will set out in the Official Report the guidelines of the Welsh Development Agency which enable it to make loans or provide grants to refinance debts owing to it from companies in the private sector.

The guidelines, copies of which are in the Library, for the Welsh Development Agency's industrial investment functions do not specify the uses to which moneys invested by the WDA are to be put by recipient firms; that is a matter for the agency's judgment. The agency does not make grants to firms for any purpose.