The UK Infrastructure Bank has opened for business and is ready to start delivering on its twin aims of tackling climate change and supporting regional economic growth, the government has confirmed. The state-backed bank, unveiled by Chancellor Rishi Sunak last autumn, will aim to finance and de-risk major infrastructure projects critical to the UK’s transition to a net zero economy by 2050, as well as projects that can boost regional economies. The bank, which is headquartered in Leeds, is aiming to unlock £40bn in private investment in crucial waste, water, transport, energy, and digital projects using an initial budget of £12bn of equity and debt capital and £10bn in government guarantees, the government said. The Chancellor will meet the bank’s senior leadership, including its chair Chris Grigg, and host a roundtable with local infrastructure and business leaders on a trip to the northern city to launch the bank later today.
Business Green 17th June 2021 read more »
Edie 17th June 2021 read more »