In November 2020, government announced the creation of the UK Infrastructure Bank (UKIB), as part of its National Infrastructure Strategy. UKIB aims to provide and attract finance for infrastructure projects to help tackle climate change and support regional and local economic growth. UKIB launched in interim form in June 2021.
This study will focus on the initial set up and early stages of development of UKIB. It will look at UKIB in the context of comparable government interventions, particularly the Green Investment Bank and the British Business Bank, to assess how far government has learned and applied lessons from those interventions. The study will consider whether the UKIB is well placed to deliver its mission, and its performance up to the time of our report. It will examine:
- Whether HM Treasury set up the UKIB effectively;
- Whether the UKIB has created the conditions necessary to deliver its mission; and
- Whether the UKIB is delivering as intended to date.