Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether the new UK Infrastructure Bank will have a mandate to offer loan guarantees for at-scale retrofit projects.

As set out in the Budget, the UK Infrastructure Bank will have a broad mandate to offer support across different sectors. This includes being able to support retrofit projects that contribute to achieving net zero emissions, where the Bank’s investment criteria are met.

The Government will provide further guidance on the investment parameters for the Bank in the Framework document to be published at launch.

The Bank will have a range of financing tools at its disposal including senior debt, equity, hybrid products and guarantees.