NatWest Group has announced a substantial £20 billion funding commitment over the coming decade to support economic expansion and build greater resilience throughout the North of England. This initiative reinforces the UK’s wider goals of developing stronger and more productive regional economies, with the bank playing a central role in turning regional objectives into reality.
The pledge was revealed by NatWest Group CEO Paul Thwaite at the Great North Investment Summit, an event developed alongside northern mayors and sponsored by the bank itself.
It represents a key component of the bank’s Growing Together strategy, which seeks to stimulate national progress by empowering dynamic regional economies.
The £20 billion will be directed toward vital areas including energy, transport, infrastructure, regeneration, and housing.
NatWest intends to deliver this support through direct financing, risk-sharing partnerships, and by mobilizing additional private and institutional investment.
The bank plans to work closely with Northern Combined Authorities—both established and emerging ones—to align public resources with private capital effectively.
Key investment priorities will encompass housing and the built environment, where NatWest will collaborate with housing associations and local partners to accelerate new home construction and enhance the energy performance of existing properties.
This effort builds on the bank’s national £10 billion lending target for housing providers. In mobility and transport, funding will address rail, road, and airport upgrades, alongside electric vehicle charging infrastructure and local transport solutions.
Energy and power systems will receive support for clean generation projects, storage capabilities, and essential grid modernizations.
Additionally, the commitment will advance climate resilience and decarbonization across the North through energy efficiency programs, renewable deployments such as solar, flood defenses, wastewater improvements, and land restoration initiatives.
Accompanying the announcement, NatWest shared new research highlighting strong business backing for greater fiscal devolution.
Almost two-thirds of senior executives surveyed indicated that providing regional leaders with more control over funding decisions would increase investor confidence.
The same proportion said they would be more inclined to invest in regions with stable, long-term funding arrangements.
The study suggests that devolution, when paired with strong governance and a track record of delivery, can significantly unlock private sector participation, with confidence levels already elevated in areas featuring mature Mayoral Combined Authorities.
Beyond providing finance, NatWest aims to serve as a coordinator, bringing projects together to achieve better scale and efficiency while making it simpler for public and private partners to engage.
Paul Thwaite emphasized the bank’s deep regional connections:
“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.”
Oliver Holbourn, CEO of the National Wealth Fund, welcomed the alignment with national clean energy and regional development goals.
North East Mayor Kim McGuinness, Chair of The Great North, noted that the investment demonstrates recognition of the North’s substantial untapped potential and the rewards of backing its regions.
The new pledge extends NatWest’s ongoing work in the North.
Examples include its role in a £364 million sustainable finance package for Newcastle International Airport to support net-zero targets by 2035, incorporating a £15 million green loan for solar expansion and electric vehicle transitions. Similarly, a £106 million funding package for Broadacres Housing Association in North Yorkshire is helping expand affordable housing delivery, including social lending elements.