Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how much the UK Infrastructure Bank plans to invest in (a) 2021-22, (b) 2022-23, (c) 2023-24 and (d) 2024-25.

The UK Infrastructure Bank launched on 17 June 2021. UKIB has a maximum financial capacity of £22 billion consisting of £12 billion for lending and investment alongside the ability to issue £10 billion of guarantees.

As set out in the Bank’s Framework Document, at an annual level UKIB is able to draw down up to £1.5 billion of equity capital in any given year for the first five years, (up to a £5 billion limit) and is able to borrow up to £1.5 billion a year (up to a £7 billion total borrowing limit). UKIB will also be able to issue up to £10 billion of guarantees overall, with up to £2.5 billion in guarantees in any given year.

The Bank has completed five deals since its launch, totalling £310 million of commitments. Details of deals which have been announced can be found on UKIB’s website. As a new financial institution, and as set out in the UKIB Policy Design paper published at Spring Budget 2021, UKIB will require time to build up and scale up its activity. This will include the publication of a Strategic Plan in June 2022, setting out UKIB’s overall strategy and investment approach within the mandate set by government and including details on investments across the relevant forecast period.