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WAQ79658 (e) Tabled on 25/03/2020

What discussions has the Welsh Government had with the banking sector to ensure banks have enough staff and capacity to handle enquiries and applications from businesses in Wales?

Answered by Minister for Economy, Transport and North Wales Answered on 09/04/2020

I met representatives of the high street banks on 19 March, to discuss the response to the COVID-19 crisis. In summary, they advised me they will be taking a flexible and considerate response with clients,  offering support such as capital repayment holidays, finance restructures and extended overdrafts. 

I will be meeting the banks again on 2 April and will continue to hold further regular meetings with them in order to share intelligence and receive their reports.

I have also opened a dialogue with the British Business Bank to discuss the Coronavirus Business Interruption Loan Scheme and to ensure Welsh businesses are aware of the support available. 

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