Establish an independent UK infrastructure finance institution

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The Commission recommends that government should maintain access to the European Investment Bank if possible. If access is lost, a new, operationally independent, UK infrastructure finance institution should be established by 2021. To enable this, government should consult on a proposed design of the new institution by Spring 2019. The consultation should cover:

  • Functions, including provision of finance to economic infrastructure projects in cases of market and coordination failures; catalysing innovation; and acting as a centre of excellence on infrastructure project development, procurement and delivery.
  • A clear mandate, including sound banking, additionality and having a wider economic and social impact.
  • Governance to safeguard the operational independence of the institution.

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