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.
  • Overview
  • 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.

Regulators UK Treasury
Entity Types Bank
Reference Rp HC-896, PR, 11/24/2022; ESG
Functions Financial; Legal; Reporting; Risk; Treasury
Countries United Kingdom
Category Central Government
Products Banking; Loan; Municipal
Regions EMEA
Rule Type Guidance
Rule Date 11/24/2022
Effective Date 11/24/2022
Rule Id 154310
Linked to Rule :140064
Reg. Last Update 11/24/2022
Report Section UK

Last substantive update on 11/24/2022