The National Wealth Fund has announced a £200 million commitment to support Associated British Ports (ABP), alongside £100 million commercial funding jointly from Bank of America, Lloyds and NatWest, help accelerate capital deployment.
Eligible projects in the programme include a further upgrade to the Port of Lowestoft to support more offshore wind operations and infrastructure enhancement works at the Port of Ipswich to develop the local Sizewell C supply chain.
Henrik L. Pedersen, CEO of Associated British Ports, said: “Associated British Ports is delighted to be partnering with the National Wealth Fund on this ground-breaking commitment. The National Wealth Fund’s strategic ambitions, innovative thinking and ability to commit over the long term make it uniquely positioned to support ABP’s targeted major infrastructure investment programme. I would also like to thank Bank of America, Lloyds and NatWest for their involvement, a further expression of their ongoing support for ABP. The projects supported by today’s transaction reflect the full span of ABP’s twin missions – Keeping Britain Trading and Enabling the Energy Transition – unlocking growth and boosting jobs, prosperity and opportunity in coastal communities.”