The investment into Bank North Limited
(“Bank North”) is in line with the strategic objectives
of the business investment strategy and the Local Industrial
Strategy and support the key objectives of supporting our globally
competitive strengths and strengthening the foundations of our
economy. Bank North operates in the Financial Services
sector.
The Combined Authority gave approval on 29 July 2022 to give
delegated authority for the period 30 July 2022 to 29 September
2022 to the Combined Authority Chief Executive and the Combined
Authority Treasurer, in consultation with the Portfolio Lead Leader
for Investment and Resources, to approve funding requests for
projects in the absence of a Combined Authority meeting at the end
of August 2022, and approve any urgent variations on amounts and
terms for already approved loans.
Any recommendations approved under the delegation will be subject
to the usual due diligence processes and will be reported to the
Combined Authority at the next available meeting.
Decision type: Non-key
Decision status: Recommendations Approved
Notice of proposed decision first published: 26/08/2022
Decision due: 26 Aug 2022 by Chief Executive Officer GMCA & TfGM
Contact: Jenny Hollamby Email: Jenny.Hollamby@greatermanchester-ca.gov.uk.