£12 billion already been deployed, the bank also has the ability issue government guarantees worth £10 billion in order to unlock more than £40 billion of overall investment.
“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,” Sunak said. “Through the Bank, we are investing billions of pounds in world class infrastructure that will support people, businesses and communities in every corner of the UK.”
In a statement issued on Thursday, Her Majesty’s Treasury said that the bank, chaired by former Barclays CEO Chris Grigg, will work in partnership with the local government, as well as the private sector, to harness investment in order to provide financing tools, such as equity, debt and guarantees, for specific infrastructure projects.
Marking the opening of the bank on Thursday, the Finance Minister hosted a…
