Source · Select Committees · Public Accounts Committee
Recommendation 18
18
Acknowledged
The Bank’s 10 deals to date have focused on clean energy (five) and digital (four)...
Conclusion
The Bank’s 10 deals to date have focused on clean energy (five) and digital (four) projects.49 These deals have generally been in areas of technology and risk where projects are relatively common, for example broadband and solar power farms.50 The Treasury told us that the Bank “needs to take a judgment going forward as to the areas in which the private sector might not be able to invest without the encouragement of the bank”.51 The Bank told us it has a small banking team of 15 to 18 people and will need to increase this to around 70 people to cover the market and the investor base.52 41 Q 37 42 Q 42 43 Q 47 44 Q 10 45 Q 24 46 Q 36 47 Qq 24, 43 48 Q 43 49 Q 10 50 Correspondence from the Chief Executive Officer of the Infrastructure Bank to the Chair, 1 November 2022 51 Q 24 52 Q 7 The Creation of the UK Infrastructure Bank 15 The Bank’s advisory function
Government Response Summary
A lead point of contact within the Bank has been assigned for departments that are most critical to delivering our mission, each of whom has regular engagement with their department to understand the government’s strategic priorities and help originate and assess investment opportunities.
Government Response
Acknowledged
HM Government
Acknowledged
5.3 A lead point of contact within the Bank has been assigned for departments that are most critical to delivering our mission, each of whom has regular engagement with their department to understand the government’s strategic priorities and help originate and assess investment opportunities.