NatWest pledges £20bn investment package for North of England

NatWest Group has announced a £20bn funding commitment for the North of England over the next decade, supporting regional economic growth through investment in infrastructure, housing, transport and clean energy projects.

image: Natwest

The announcement was made by chief executive Paul Thwaite at the Great North Investment Summit in Leeds, an event organised in collaboration with northern metro mayors and sponsored by NatWest. The bank said the funding would form part of its wider “Growing Together” strategy aimed at supporting regional economies across the UK.

The announcement comes amid broader efforts to attract private investment into northern England through devolution agreements and long-term infrastructure planning.

According to the bank, the investment programme will focus on sectors seen as critical to long-term economic development, including transport infrastructure, energy systems, regeneration schemes and climate resilience projects. NatWest said it plans to work with combined authorities across the North of England, alongside public and private sector partners, to help mobilise additional investment into the region.

Speaking at the summit, Thwaite said the commitment reflected confidence in the North’s economic potential and the scale of planned projects across the region.

Oliver Holbourn, CEO, at National Wealth Fund, added, “The National Wealth Fund is committed to driving economic growth as we transition to clean energy; while ensuring we develop the businesses, skills and capabilities that will be crucial to unlocking the future of the UK. That means, through providing investment and expert advice and supporting projects and local authorities, many of which are in our former industrial heartlands. NatWest Group’s approach very much aligns with these ambitions and we welcome it.”

Chair of The Great North, North East Mayor Kim McGuinness said, "Across the North, we have the talent, innovation and ambition to lead the UK's next era of growth and prosperity. NatWest Group's investment and commitment to the North shows us investors see the huge, untapped potential across the North of England and the massive prize on offer from backing our regions.”