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The new Scottish National Investment Bank will help encourage economic growth across Dumfries and Galloway, after the bank officially opened for business this week.

The SNP Government has committed at least £2 billion of investment to support the UK’s first mission-led development bank over the next ten years.

The bank will now begin investing in local businesses and communities, and will play an important role in helping Scotland meet its ambitious climate change targets – forming part of the SNP’s Green New Deal and helping create high quality jobs in the process.

First Minister Nicola Sturgeon said: “The Scottish National Investment Bank will help to tackle some of the biggest challenges we face now and in the years to come, delivering economic, social and environmental returns.

“It is hitting the ground running with its first major investment in M Squared – a great example of the ambitious and innovative companies we have here in Scotland that will be key to our economic recovery and future prosperity.

“The launch of the bank is one of the most significant developments in the lifetime of this parliament, with the potential for it to transform, grow and decarbonise Scotland’s economy.”

The first investment, officials announced, will be Glasgow-based laser technology firm M Squared