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<p>The UK Infrastructure Bank (UKIB) was launched in June 2021 to provide infrastructure
finance to tackle climate change and support regional and local economic growth across
the UK.</p><p> </p><p>The Bank is an operationally independent institution and responsible
for making its own investment decisions within the scope of its remit. The disclosure
of information related to the projects the Bank has considered is market sensitive
and therefore not shared publicly.</p><p> </p><p>The UKIB has made two loans to local
authorities since 2021, including a £107 million loan to Tees Valley Combined Authority
for the construction of the South Bank Quay and a £10 million loan to the West Midlands
Combined Authority for green sprint bus infrastructure. The UKIB also supports local
authorities through the continued rollout of its advisory service which has pilots
underway in Bristol, Greater Manchester, and West Yorkshire.</p><p> </p><p>In April
2022, the Cabinet Office approved the administrative classification of UKIB as a Non-Departmental
Public Body, sponsored by HM Treasury, with effect from June 2021. The UKIB Framework
Document will be updated to reflect this classification after the UKIB Bill receives
Royal Assent.</p><p> </p>
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