Lloyds pledges £1bn to infrastructure
31 July 2012
Lloyds bank plans to finance another £1bn worth of infrastructure projects in the government’s Infrastructure Plan.
The announcement came as part of the bank’s half-year results, which noted a loss of nearly £500m for the period.
The £1bn funding would cover projects in areas such as renewable energy and electricity generation projects, port and highway development and other core infrastructure, said the bank.
Chris Heathcote, MD and global head of project finance, said: "By providing this additional finance now, during the current economic cycle, vital projects can secure the financing required to progress so the UK's infrastructure is ready when growth returns."
The bank had the lead structuring role on the £2.6bn Intercity Express Programme, which reached financial close last week.
