UK Infrastructure Bank

Treasury written question – answered on 9th June 2022.

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Photo of Rachel Reeves Rachel Reeves Shadow Chancellor of the Exchequer

To ask the Chancellor of the Exchequer, what steps the UK Infrastructure Bank will take to ensure public funds invested in third party funds will directly support levelling up and help reduce emissions.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The UK Infrastructure Bank operates within a strategic framework set by government but has operational independence in its day-to-day activity, including investment decisions. UKIB has dual objectives of investing in projects to help mitigate and adapt to climate change, and to support regional economic growth across the UK. The Bank is required to have regard to both of these objectives in setting its investment policies and assessing all transactions, including any that involve investment in third party funds. I have asked the Bank to write to you directly on the approach that it takes in making decisions on investments in third party funds.

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