NatWest commits £20bn across the North of England

Announced at The Great North Summit in Leeds, the funding will be spread across the next 10 years and will support investment in areas crucial to regional growth, such as energy, transport, infrastructure, regeneration, and housing.

NatWest Group will provide direct funding to partners as well as help to bring in investment from other sources, collaborating with Northern Combined Authorities.

Areas of focus include housing and the built environment, where the bank is looking to work with housing associations to accelerate delivery.

Mobility and transport will also be a focus, including rail, road, and airport infrastructure.

Energy and power systems, including green energy, and decarbonisation programmes round of the areas of interest, through investment in energy‑efficiency and retrofit programmes, deployment of renewable technologies such as solar, and resilience infrastructure including flood defences, wastewater systems, and land regeneration.

Speaking at The Great North Summit today in Leeds, Paul Thwaite, chief executive of NatWest Group, said: “I grew up in Liverpool — and doing so in the 70s and 80s, means I saw a local economy reinvent itself. In the ’90s I moved to Manchester and as a student there, saw it become a cultural powerhouse – built on creativity and new industries.

“Through my career at NatWest, I’ve seen millions of our customers across the North turn their ambition into action — new ideas, new businesses and new growth.

“Just this morning, I met with our customer Illiad, a high-growth business based minutes away in City Square. And I saw that entrepreneurial spirit in action as they develop new payment testing technology and win global business from here in Leeds.

“I don’t underestimate the very real near-term challenges, but I’ve seen first-hand what the North is capable of and I’m confident that it is one of the most compelling places to invest in the UK today…

“This commitment reflects our confidence in the North as a growth engine for the UK. We can see the strength of ambition across the region, and the scale of projects coming forward in housing, transport, energy and infrastructure.

“NatWest Group has deep roots in the North and an on-the-ground presence across its many communities, so we understand both the opportunity and what it takes to deliver it.

“Our role isn’t just to provide finance, it’s to connect capital with local ambition — working in partnership with combined authorities, business and investment partners to accelerate growth.”

This new commitment builds on the bank’s existing investment in communities and businesses across the North of England, including Newcastle International Airport, where it invested as part of a £364m sustainable finance package and a £106m investment into Broadacres Housing Association, headquartered in North Yorkshire, to expand its development programme.

Oliver Holbourn, chief executive at National Wealth Fund, said: “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.”