ENGINEERING TECH

Infrastructure Policy Watch: UKIB goes live, Singapore brings in global sustainability experts

CHRIS RICHARDS | June 29, 2021

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The new UK Infrastructure Bank (UKIB) recently opened, with its remit confirmed by the UK government in a new Framework Document.

The document sets out the role of the bank as providing: "leadership to the market in the development of infrastructure and new infrastructure technologies, crowding-in private capital and reducing risk through its cornerstone investments and range of financial products. It will bolster the government’s lending to local government for large and complex projects through its expertise and scrutiny, and help to bring private and public sector stakeholders together to regenerate regions and create new opportunities."

It will have two strategic objectives, to help tackle climate change and support regional and local economic growth. Given these two objectives may conflict, the Framework Document suggests "where an investment is primarily to support economic growth, the Company will ensure that it does not do significant harm against its climate objective."

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