A fund of £1 billion dedicated to manufacturing businesses in the UK has been set up by Royal Bank of Scotland (RBS) and Natwest.
The fund, which will provide fixed rate loans, has been launched in response to customer feedback that has revealed demand for manufacturing business's products is expected to increase.
Chairman of business banking at Natwest and RBS Peter Ibbetson said:"As we see many of our manufacturing customers turning their thoughts to investment in order to drive competitiveness, we want to send a clear message of support to them by creating a fund that is designed specifically to enable that investment."
He also highlighted that, through the fund, the company will aim to do everything possible to "assist the sector as conditions begin to improve".
Alastair Murray, group finance director of Dairy Crest Group, welcomes the fund, saying that it "should be seen as a positive initiative".
The launch of the fund comes a month on from the publication of the results of a survey of UK manufacturers. The Purchasing Managers’ Index survey showed a rebound in the industry during December to reach a two-year high.
