The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

UK Infrastructure Bank Launches in Leeds

UK Infrastructure Bank Launches in Leeds
22 June 2021

Launched at its headquarters in Leeds, the UK Infrastructure Bank is to accelerate investment into ambitious infrastructure projects.

There will reportedly be billions of pounds available to UK businesses and communities, to support local growth and tackle climate change.

First announced by the Chancellor alongside the spending review, the bank will help to finance important projects in the UK in sectors including clean energy, transport, digital, water and waste.

The UK Infrastructure Bank will have an initial £12 billion of capital to deploy and will be able to issue £10 billion of government guarantees, helping to unlock more than £40 billion of overall investment.

From 17 June, the bank will be able to issue loans, equity, or guarantees to private projects, and it will start lending to local authorities later in the summer.


Leeds HQ for UK Infrastructure Bank


Chancellor Rishi Sunak marked the bank’s opening with a visit to its new office in Leeds, where he met senior leadership including the bank’s Chair, Chris Grigg, and hosted a roundtable with local infrastructure and business leaders.

Grigg said: "I am delighted to be leading this institution, which will be a catalyst for investment to support regional economic growth and net-zero ambitions."

Sir Roger Marsh OBE DL, Chair Leeds City Region Enterprise Partnership & NP11 added: "Locating this powerful national institution in our region will be a real catalyst for change and a major driver of our post-pandemic recovery. It will build on our long-term commitment to ensuring that the benefits of economic growth are felt by all of our communities.

"This landmark decision is testament to the strength of our financial and professional services sector and will ensure a strong and successful long-term economic outlook for the city region, the North and the UK. It will act as a catalyst to inspire economic growth and business confidence at a time when it is needed most and it is pleasing that it will be operating from Leeds."

Picture: a photograph of a leather wallet, showing three cards, one of which is a VISA.

Article written by Ella Tansley | Published 22 June 2021


Related Articles

Rishi Sunak’s Net-Zero Policy Changes – Industry Reactions

Prime Minister Rishi Sunak has outlined new plans to dial back the UK’s net-zero policies, to mixed reactions from politicians, business groups and the general...

 Read Full Article
Chancellor Reveals Post-COVID Economy Plans in Autumn Budget

As Rishi Sunak sets out his departmental spending, new fiscal rules and public service plans – what are the main takeaways for the commercial property...

 Read Full Article
The Budget 2021 – What do FMs Need to Know?

As Chancellor Rishi Sunak reveals this year’s Budget, what are the main points that facilities managers should be aware of? The annual Budget is set by the...

 Read Full Article
UK to Have Legally Binding Sustainability Targets From 2022

As part of the updated Environment Bill, the government will underpin key environmental commitments with legally binding targets, including for air quality, water, waste...

 Read Full Article
Building Services Contractors Must Consider Changes to Legal Liabilities 

The Building Safety Act is already changing the legal landscape for the building services profession, according to BESA. The association considers the extension of the...

 Read Full Article
AI Safety Summit 2023 - What Have We Learned?

Representatives from 28 countries recently met at Bletchley Park in Milton Keynes to discuss the risks and opportunities around AI.   Watch the...

 Read Full Article
What’s Happening With Biodiversity Net Gain?

Mandatory Biodiversity Net Gain rules, where developers must avoid loss of habitat on land they plan to build on, will be delayed until January 2024. Originally set to...

 Read Full Article
Rishi Sunak Confirms Scrapping of Manchester Leg of HS2

At the Conservative Party conference, Prime Minister Rishi Sunak announced his plans to scrap the remaining HS2 rail links. The Birmingham to Euston line will be...

 Read Full Article
Will Rishi Sunak Push Back on Petrol Car Ban?

The media is awash with reports that Rishi Sunak is to dial back on key net-zero policies, including the ban on sales of new petrol and diesel cars. ThisWeekinFM...

 Read Full Article
Father and Son Team Develop Temperature-Reducing Paint

A paint formula that can reduce surface temperature by up to 64°C compared to a black surface has been developed by a British father and son team. Engineers Howard...

 Read Full Article