The UK Infrastructure Bank (UKIB) will partner with three local government bodies in England on pilot projects to deliver local growth and tackle climate change.
UKIB will partner with Bristol City Council, Transport for Greater Manchester and the West Yorkshire Combined Authority to deliver projects that focus on the electrification of buses, mass transit and place-based, low-carbon infrastructure.
This is part of UKIB’s aim to build up a new advisory function for local authorities around the UK. It will provide commercial expertise and support councils in finding innovative ways to meet net-zero targets through financing infrastructure.
John Flint, UKIB’s CEO, said: “The bank was set up to tackle climate change and boost growth across the UK, and local authorities are at the frontline of both these goals. We want to use our unique experience and position to help authorities build capabilities, financial expertise and reach their ambitions.”
The bank will work with Bristol City Council to deliver an innovative City Leap partnership that plans to build £1bn of net-zero infrastructure over the next 20 years.
Marvin Rees, Bristol’s mayor, said: “This 20-year collaboration will see us work closely with our partners in the private sector to develop clean, sustainable heat and power systems for the city and grow the green economy, creating jobs and opportunities across Bristol.”
UKIB aims to work with Transport for Greater Manchester to accelerate plans for the transition of a third of the city region’s overall bus fleet to a zero-emission fleet by 2027. It will also advise the West Yorkshire Combined Authority as it develops a new transformational Mass Transit programme.
Andy Burnham, Greater Manchester’s mayor, said: “The bank has been helping Transport for Greater Manchester to assess the strategic options to fund, finance and procure Greater Manchester’s Zero Emission Bus fleet, bringing unique market insight and perspective.”
Tracy Brabin, West Yorkshire’s mayor, said: “[The new advisory function] will enable us to bolster our expertise when working on projects, such as the West Yorkshire mass transit network, so that we can deliver them as effectively as possible for the people in our region.”
—————
FREE weekly newsletters
Subscribe to Room151 Newsletters
Room151 LinkedIn Community
Join here
Monthly Online Treasury Briefing
Sign up here with a .gov.uk email address
Room151 Webinars
Visit the Room151 channel
