Lloyds Banking Group is planning to launch a new infrastructure fund to help finance major UK and German public sector projects, reported the Financial Times.
According to the Financial Times report, Lloyds has even approached its investors to gauge the level of their support.
The launch is expected to be handled by the bank’s project finance department, which was formed after the acquisition of HBOS.
The infrastructure fund would focus on social and economic infrastructure such as airports, ports and power.
The infrastructure fund is said to be backed by four large pension funds. School regeneration projects in Edinburgh and Glasgow are claimed to be among the schemes in the fund.