UK Treasury UKIB Report and Accounts
On Nov. 24, UK Treasury issued UK Infrastructure Bank annual report.
- UK Treasury issued UK Infrastructure Bank (UKIB) annual report, accounts 2021-22.
- Follows UK Treasury Jun. 2022 appointed UK Infrastructure Bank board, see #140064.
- Annual report details UKIB's budget and finances for the year, audited by the National Audit Office, sets out bank's achievements, structure, performance against objectives.
- UKIB opened in Jun. 2021, its missions are to tackle climate change and support economic growth, infrastructure investment across UK will be vital to achieve these.
- Established governance frameworks and processes to oversees its activities, continues to recruit staff to help it achieve goals, has grown at pace, is resourcing key functions.
- Made 5 new loans across private and local authority sectors during 2021-22 financial year, included the development of facilities to support offshore wind supply chain.
- 2 subsidy-free solar farms, a new green bus route, and 2 ultrafast broadband deals for hard-to-reach communities across the UK, and has partnered with other organizations.
- UKIB will look to improve the UK's energy security, help protect from market volatility.
- Further Progress
- Since end of financial year closed 5 more deals worth over £700mn, includes undersea electricity interconnector between UK and Germany, and an ultrafast broadband deal.
- By end Oct. 2022 had announced total 10 deals, unlocking over £46bn private capital.
- In Jun. 2022 issued strategic plan, will continue to work with government to support its long-term economic growth, net zero and energy security objectives.
||Rp HC-896, PR, 11/24/2022; ESG
||Financial; Legal; Reporting; Risk; Treasury
||Banking; Loan; Municipal
|Reg. Last Update
Last substantive update on 11/24/2022