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Publication - Independent report

BiFab: intervention analysis

Published
10 February 2025
Directorate
Economic Development Directorate
Topic
Economy
ISBN
9781836015437

We commissioned Ernst & Young to undertake an evaluation of the BiFab intervention following a recommendation from Audit Scotland that the Scottish Government seek to learn lessons from its experience of recent financial interventions in private companies.

View supporting documents Supporting documents

Summary of Intervention Funding

The graphic below illustrates how the funding offered to BiFab by SG at each intervention point was drawn over time and the resulting cumulative SG exposure. The total amount of funding offered to BiFab was £56m. £3.6m of the facilities remained unused (as the Beatrice working capital loan was only made available until December 2018) and as a result, SG provided a total of £52.4m to BiFab over the intervention period.

The graphic illustrates the amount of funding offered to BiFab by the Scottish Government over time (available facility) and the lending advanced over the life of the intervention (drawdowns). The total amount of funding offered to BiFab was £56m. £3.6m of the facilities remained undrawn (as the Beatrice working capital loan was only made available until December 2018) and as a result, the Scottish Government provided a total of £52.4m in cash to BiFab over the intervention period.

Contact

Email: SCADPMO@gov.scot

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