The company launched to cut the cost of borrowing for councils will continue trading despite losses totalling almost £7.4m since its launch eight years ago.
Chairman of the UK Municipal Bonds Agency, Merrick Cockell, admitted conditions were ‘tough’ but pointed out the company had new green and environmental products and if these were successful he was confident of the company’s future.
Annual accounts registered with Companies House showed the agency has made losses every year since its launch in 2014.
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