In June 2021, HM Treasury launched the UK Infrastructure Bank (UKIB) with the aim of encouraging private finance alongside public investment to achieve two strategic objectives: helping to tackle climate change and supporting regional and local economic growth.
UKIB is a publicly owned company with the Treasury as sole shareholder. The Treasury has provided for the Bank to invest up to £22 billion of public money over its first five years, through a combination of equity, loans and guarantees to support infrastructure projects. It has asked the Bank to prioritise five sectors: clean energy, transport, digital, water and waste.
The Committee will question executives at the UK Investment Bank and senior officials at the Treasury. If you have evidence on the creation of the UKIB and whether it is structured and supported to achieve its goals, please submit here by Tuesday 25 October at 18:00.