The UK Infrastructure Bank (UKIB) is becoming the National Wealth Fund (NWF), as announced by Chancellor Rachel Reeves at the International Investment summit in London today.
The new NWF will expand UKIB’s remit beyond infrastructure in support of the Government’s industrial strategy.
With additional financial capacity and an enhanced risk budget, the NWF will be capitalised with £27.8bn to catalyse private investment.
From its HQ in Leeds, the NWF will expand its team, securing additional sector expertise to support its new remit.
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