A new infrastructure investment bank in the UK has been called for by the Institution of Civil Engineers (ICE).
ICE, a registered charity that aims to promote and progress civil engineering, hopes investment will be attracted over the next ten years as a result of the institution.
A recent agreement among the main political parties regarding the formation of a green investment bank has been welcomed by ICE.
In order to help attract larger volumes of private capital, the charity is still calling for an infrastructure funding unit.
Economic secretary to the treasury Ian Pearson has confirmed that the treasury is currently looking into ways to finance UK infrastructure requirements such as the establishment of a national infrastructure investment bank.
Tom Foulkes, director general of ICE, said: "We are still hopeful for a positive announcement relating to National Infrastructure Investment Bank, or similar funding mechanism, in the budget. Such a bank will finally deliver a sustainable funding solution for future infrastructure."
