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, for what reason the UK Infrastructure Bank is investing via third party funds rather than directly.

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

The UK Infrastructure Bank makes independent investment decisions based on its four investment principles: · The investment helps to support the Bank’s objectives to drive regional and local economic growth or support tackling climate change. · The investment is in infrastructure assets or networks, or in new infrastructure technology.

  • The investment is intended to deliver a positive financial return, in line with the Bank’s financial framework.
  • The investment is expected to crowd in significant private capital over time.

These principles help assess what projects should be taken forward in line with UKIB’s objectives to tackle climate change and drive regional and local economic growth. The Bank’s investment team assesses each proposition on a case-by-case basis, working to identify the most appropriate financing structure in the context of the Bank’s mandate. I have asked the Bank to write to you directly on the approach that it takes to its investments in third party funds.

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