Launched today at its headquarters in Leeds, the UK Infrastructure Bank will be tasked with accelerating investment into “ambitious infrastructure projects, cutting emissions and levelling up every part of the UK”.

First announced by the Chancellor alongside the Spending Review, the Bank will help to finance important projects in every region and nation of the UK in sectors including clean energy, transport, digital, water and waste.

The UK Infrastructure Bank will have an initial £12 billion of capital to deploy and will be able to issue £10 billion of government guarantees, helping to unlock more than £40 billion of overall investment.