April 21, 2024

Investment funds for countries and regions

For a sustainable and prosperous UK economy to continue to grow, businesses across the UK need to thrive. The British Business Bank wants to break down certain barriers to finance so that access to finance becomes a level playing field for all entrepreneurs – wherever they are, whatever their gender, whatever their ethnicity.

The purpose of the Nations and Regions Investment Funds is to drive sustainable economic growth by supporting innovation and creating local opportunities for new and growing businesses across the UK, whatever the economic circumstances, taking a comprehensive approach to all eligible sectors.

In the 2021 Spending Review, the government announced a commitment of £1.6 billion for new funding through investment strategies that best meet the needs of businesses in their country or region:

  • £660m for Northern Powerhouse investment fund, including expansion into the north-east of England
  • £400m Midlands Engine Investment Fund
  • £200 million to provide a new investment fund for the South West, building on the Cornwall and Isles of Scilly Investment Fund
  • £150 million to provide a new investment fund for Scotland
  • £130 million to provide a new investment fund for Wales
  • £70 million to provide a new investment fund for Northern Ireland

The British Business Bank is responsible for managing investment funds for nations and regions on behalf of the UK Government. We create investment funds in regions not currently served by the Bank's existing regional financing program before launching subsequent investment funds in existing fund regions. More details about the new funds will be added to the website in due course, you can Sign up to receive updates here.

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Investment funds in our countries and regions