- The UK Infrastructure Bank bill has received Royal Assent,
confirming the UK Infrastructure Bank’s independence
- A vital part of the Government’s plan to invest in
infrastructure, the Bank has already announced £1.2 billion of
deals that unlock over £5 billion of private and public
investment, driving growth in every region of the UK
- Headquartered in Leeds, the Bank is bringing hundreds of jobs
to the city and has already created and supported 4,500 jobs
across the country
The Bank provides funding to private companies and local
authorities for projects to boost clean energy, improve transport
links, expand digital infrastructure, and improve water and waste
processing.
The bill will enshrine the Bank’s operational independence, put
its objectives to level up the UK and help tackle climate change
in statute and set out clear accountability structures.
Having already announced £1.2 billion of deals that unlock over
£5 billion of private and public investment, the Bank is tasked
with unlocking £40 billion of infrastructure investment by
working closely with the private sector and local Government to
drive growth and our green industrial revolution.
MP, Economic Secretary to
the Treasury said:
“The UK Infrastructure Bank has already announced billions of
pounds of vital investment as well as creating and supporting
over 4,500 jobs UK wide.
“We have a laser focus on growing the economy and delivering high
skilled, well paid jobs, as we drive forward this country’s clean
energy revolution, creating opportunity in every region of the
UK.”
Formally launched in June 2021 the UK Infrastructure Bank has
been provided with £12 billion of capital to deploy, with the
capacity to issue £10 billion of government guarantees, recently
using these powers to unlock £75 million to accelerate full-fibre
rollout to 1.5 million homes in the UK.
The Bank will continue its mission to harness investment tailored
to the needs of specific local areas, offering a range of
financing tools including debt, equity, and guarantees. Further
information: