“Bank of Cornwall.
Cornwall could be in line to get its own European-funded lending-for-businesses bank, the BBC understands. It would be set up with about £100m of European money and would lend cash to businesses setting up in the area, or planning to expand into the county.
The project would be funded from £500m Cornwall is due to get over the next six years to improve its economy. The Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) scheme must be approved by the EU and the UK.
Local officials told business correspondent Neil Gallacher that was not expected to be a problem. The LEP, an alliance of business leaders which replaced the South West Regional Development Agency, confirmed the move.
Good idea, attract more business into Cornwall, it'll make things better for everyone.”
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