Six years of partnership and impact with Development Bank of Wales
Since WEPCo was established in 2020, the Development Bank of Wales has worked closely alongside the team and our investment partner, Meridiam, to help deliver community-focused Mutual Investment Model (MIM) projects across Wales.
We spoke to David Perez, Senior Portfolio Executive at the Development Bank of Wales, to hear his perspective on the value of the partnership and the collective impact made over the last six years.
A strategic investment in Wales
The Development Bank of Wales’ involvement in WEPCo goes well beyond financial backing. As David explains, it represents a long-term strategic commitment to Wales’ education infrastructure.
“The Development Bank of Wales plays an important strategic role as a long-term investment partner in WEPCo. So far, over £500 million has been invested to support the development of new schools and colleges across Wales through the MIM Model, helping projects move from early development through to financial close and delivery, while keeping a clear focus on value for money, transparency and long-term public benefit.”
A strategic investment in Wales
The Development Bank of Wales’ involvement in WEPCo goes well beyond financial backing. As David explains, it represents a long-term strategic commitment to Wales’ education infrastructure.
“The Development Bank of Wales plays an important strategic role as a long-term investment partner in WEPCo. So far, over £500 million has been invested to support the development of new schools and colleges across Wales through the MIM Model, helping projects move from early development through to financial close and delivery, while keeping a clear focus on value for money, transparency and long-term public benefit.”
Why long-term partnerships matter
Major infrastructure programmes of this scale are inherently complex, and experience has shown that the quality of partnerships is just as important as the quality of the buildings themselves. David reflects on why continuity and commitment are so critical to success.
“These projects are complex by nature and take time to shape, deliver and embed. Long-term partnerships matter because they create the stability, continuity and mutual understanding needed to navigate that complexity well. They allow partners to solve problems together, learn from experience, improve delivery over time and stay focused on the long-term outcomes that matter most.”
Shared values, stronger outcomes
A common set of values has been central to the strength of the partnership. WEPCo, the Development Bank of Wales and Meridiam are all united by a commitment to ESG principles, social value and long-term stewardship, and that alignment has shaped how the programme has been delivered.
“The Development Bank of Wales and Meridiam share a belief that infrastructure investment should deliver more than physical assets alone, it should create wider economic, social and environmental value. That shared approach can be seen in the emphasis WEPCo places on sustainable development, community benefit, transparency, local supply chains, skills and future generations.” David says.
This shared philosophy also speaks to the broader case for public/private partnerships in education infrastructure. David adds:
“The model brings together a strong public interest focus with private sector delivery expertise, innovation and long-term operational discipline. In the case of education infrastructure, that means being able to develop modern, sustainable learning environments while also embedding quality assurance, maintenance, community benefit and long-term accountability into every project.”
Shared values, stronger outcomes
A common set of values has been central to the strength of the partnership. WEPCo, the Development Bank of Wales and Meridiam are all united by a commitment to ESG principles, social value and long-term stewardship, and that alignment has shaped how the programme has been delivered.
“The Development Bank of Wales and Meridiam share a belief that infrastructure investment should deliver more than physical assets alone, it should create wider economic, social and environmental value. That shared approach can be seen in the emphasis WEPCo places on sustainable development, community benefit, transparency, local supply chains, skills and future generations.” David says.
This shared philosophy also speaks to the broader case for public/private partnerships in education infrastructure. David adds:
“The model brings together a strong public interest focus with private sector delivery expertise, innovation and long-term operational discipline. In the case of education infrastructure, that means being able to develop modern, sustainable learning environments while also embedding quality assurance, maintenance, community benefit and long-term accountability into every project.”
Delivering real impact
When asked about the biggest success of the partnership to date, David points not just to the scale of investment, but to the tangible difference being felt in communities across Wales.
“The biggest success so far has been demonstrating that this model can deliver real, visible impact in Wales. Through the partnership, significant investment has been directed into the education estate, helping bring forward high-quality new schools and college projects with strong sustainability credentials and meaningful community benefits.
It has been extremely powerful to speak to the Headteachers and staff at the RCT primaries and at Mynydd Isa and to hear them reporting the positive impact that the new facilities are already having on pupils. The programme has shown that major public/private partnerships can be values-led, collaborative and focused on long-term outcomes for future generations.”
Lessons learned along the way
No major infrastructure programme is without its challenges, and six years of delivery has generated valuable insight that will strengthen the projects still to come.
“As with any major infrastructure programme, there have been valuable lessons around the importance of early collaboration, realistic planning and maintaining flexibility as projects develop. The experience to date shows how important it is to work in a transparent way, tackle issues early and keep learning from each phase of delivery so that future projects can be even stronger. Long-term partnerships work best when all parties are open to challenge, willing to adapt and focused on continuous improvement.” Said David.
Looking ahead
Looking ahead to the next batch of projects David says:
“What is most exciting is the momentum now building across the next wave of projects, particularly in further education, and the opportunity to build on what has already been achieved. There is a real chance to scale the programme’s impact.”
For WEPCo, that ambition is what drives everything. Every project is an investment not just in buildings, but in communities, in skills and in the future of Wales.