According to information obtained by News, the government-backed company has reached an agreement with Barclays and Lloyds Banking Group to offer housing associations around Britain partial loan guarantees.
The deal, one of the first to be revealed since the establishment of the National Wealth Fund (NWF), will be made public in the coming days, according to an industry source.
According to a banking insider, the NWF’s collaboration with the two high street lenders would make it possible to retrofit a sizable number of properties.
They noted that it was an illustration of how the public and private sectors may collaborate to produce a positive societal impact.
On Wednesday, it remained unclear how big the loan guarantees offered by the state-controlled vehicle were.
Alongside the larger agreement with Barclays and Lloyds, a separate agreement worth around £150 million is anticipated to be revealed with the Housing Finance Corporation.
The chancellor, Rachel Reeves, unveiled intentions this week to integrate the UK Infrastructure Bank into the NWF.
