The first permanent chief executive has been appointed for an institution that is set to become a prime funder of new rail infrastructure.
Former HSBC CEO John Flint joins the new UK Infrastructure Bank and “will lead the organisation to support regional growth and tackle climate change”.
Transport is to be a key focus of the UKIB, alongside clean energy, water and waste, and digital infrastructure. It is receiving an initial £12 billion in capital, with a further £10bn in capital guarantees.
Flint said that the UKIB’s purpose was “clear” and that “the opportunity to play a role in accelerating the UK’s transition to a low-carbon economy and catalysing regional economic growth is exciting”.
Establishment of the UKIB was announced by Chancellor of the Exchequer Rishi Sunak alongside the Spending Review, and the bank has existed in interim form since June. It is to work alongside the Infrastructure and Projects Authority, and the National Infrastructure Commission.
Flint takes over from interim CEO John Mahon. The UKIB is headquartered in Leeds. inal former Great Eastern Railway station at Soham closed in 1965.
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