£3m of £50m fund invested in two years
The rate of investment from the Enterprise Development Fund hasn't lived up to Government expectations.
That's the admission of the Deputy Chief Executive of the Department for Enterprise.
Around £3m pounds in loans has been paid out under the Enterprise Development Scheme during its first two years in existence, well below the anticipated £10m a year.
Karl Hawker made the comments during an evening of Any Questions organised by the Isle of Man Bankers Association and the London Institute of Banking and Finance last week.
Mr Hawker says there are two keys challenges facing the EDS:
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