The Government’s proposed UK Infrastructure Bank has become a reality, launching at its new headquarters in Leeds the Bank will be tasked with accelerating investment into cutting emissions and infrastructure projects.

First announced by the Chancellor alongside the Spending Review, the Bank will help to finance important projects in all regions and sectors, including clean energy, transport, digital, water and waste.

The Chancellor of the Exchequer, Rishi Sunak said: “Opening its doors today, the UK Infrastructure Bank will accelerate our ambitions for tackling climate change and levelling up, while creating new opportunities across the UK as part of our Plan for Jobs.”

The UK Infrastructure Bank will have an initial £12bn of capital to deploy (£5bn of equity and £7bn of debt) and will be able to issue £10bn of Government guarantees, with blended finance potentially offering more than £40bn of overall investment.

The UK Infrastructure Bank will form an essential part of the Government’s National Infrastructure Strategy and will complement the existing expertise of the Infrastructure and Projects Authority (IPA) and the National Infrastructure Commission. It is part of the Government’s plan to deliver over £600bn in gross public sector investment over the next five years.

Share Story: