There has been much politicking around the Scottish National Investment Bank, writes Business Editor Ian McConnell.

But this all adds up to a very big deal.

It is perhaps no surprise, given the goldfish-bowl nature of politics north of the Border, that the Scottish National Investment Bank has found itself thrust into the limelight.

Highest profile, probably, have been attempts to score points over any perceived or actual setback for SNIB, whether that be around the abrupt resignation of Eilidh Mactaggart as chief executive back in 2022 or heavy losses sustained in the funding of the likes of M Squared Lasers or Scottish space sector company Orbex. Both M Squared Lasers and Orbex fell into administration.

And Scottish Government ministers have naturally been to the fore when there have been good news stories – when SNIB has unveiled major investments.

Amid all the politicking, it is crucial to remember the very important role which SNIB was set up to play.

This is sometimes forgotten, where people would judge it as if it were a major private equity player with absolutely no social missions when it comes to the outcomes of its investments.

SNIB describes itself as “an impact investor…focused on delivering both commercial returns and tangible benefits that align with at least one of its three missions".

These missions are: net zero, characterised as “addressing the climate crisis through growing a fair and sustainable economy”; innovation, specifically “scaling up innovation and technology for a more competitive and productive economy”; and “place”, which is defined as “transforming communities to make them places where everyone thrives”.

It is in the likes of rural communities where SNIB can have a major impact for businesses, residents, and, in the case of the North Coast 500 for example and the bank’s investment in Highland Coast Hotels, also the........

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