Question to the Wales Office:

To ask the Secretary of State for Wales, what assessment he has made of the ability of organisations in Wales to secure low-cost, long- term and large-scale loans once European Investment Bank loans are no longer available.

The European Investment Bank (EIB) is one of a number of lenders to UK projects. The long-term relationship between the UK and the EIB will need to be resolved as part of the UK’s withdrawal from the EU.

It may be mutually beneficial to maintain a relationship between the UK and the EIB after we leave the EU. The Government is looking to explore this as part of the negotiations with the European Union.

Much of the UK’s infrastructure is privately financed and delivered, including in Wales, and our priority is to ensure that good projects continue to be able to raise the finance they need.