Legal News

UK Infrastructure Bank announced as a permanent institution for UK

Published on: 27 March 2023
Published by LNB News

LNB News 27/03/2023

Document Information

Issue Date: 27 March 2023

Published Date: 27 March 2023

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

UK Infrastructure Bank has announced that the UK Infrastructure Bank Act 2023 has been passed into law, forming a significant milestone for the Bank which is set up in legislation as a permanent institution for the whole of the UK. The new Act places the Bank on a statutory footing and confirms its long-term future, while recognising its important role in helping to tackle climate change and boost regional and local growth. Additionally, the new Act legally defines ‘infrastructure’ as including nature-based, as well as technological, solutions. The Bank further acknowledged the importance of natural capital to delivering its mission.

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