British financial institution Lloyds Banking Group expects to fuel startups and business expansion with up to £1.6 billion (€1.8 billion/$2 billion) of lending, The National reported.

The lending scheme is part of an £18 billion (€21 billion/$23 billion) commitment for the entire United Kingdom in 2020.

Last year, the bank supported projects with the same amount of money, which helped with the development of a new whitefish market at Lerwick Harbour.