We're announcing £1bn new finance commitment for North East businesses
Over £1 billion of new finance can be available to businesses across the North East in 2026 – helping firms of all sizes to invest, scale and compete as the region positions itself at the forefront of the UK's clean energy transition.
This forms part of Lloyds Banking Group’s plan to make over £35 billion of new finance available to companies operating and investing across the UK in 2026.
The announcement comes as new research from Lloyds reveals 7 in 10 (70%) of senior business leaders in the North East believe more private sector investment is needed to unlock the region’s economic potential.
The survey, which polled 1,000 senior business leaders in the North East, also found:
- Almost three quarters (74%) of respondents believe greater private sector investment would benefit their supply chains, helping to create new job opportunities and boost productivity to enhance economic output in the region.
- Business leaders also reported that private investment would help them to expand their operations and workforce (60%), increase research and development (59%) and introduce new measures to boost efficiency and productivity (58%).
Emily Cox MBE, Lloyds Banking Group Ambassador for the North East, said: “Lloyds Banking Group is proud to make this £1 billion commitment to local businesses to accelerate growth across the North East.
“We’re backing businesses big and small, from transformational developments at Newcastle Airport, the Port of Tyne and Dogger Bank, to local businesses like Holystone Civils that form the backbone of the region’s unique supply chain. Together, we’re helping these businesses to scale up, create new jobs and grow the region’s economy."
Green growth opportunities will be unveiled at the Invest North East: Energy & Innovation Summit in Newcastle this week, which will convene leaders from business, finance and government to discuss the essential role the region will play in the UK's shift toward clean power and advanced manufacturing.
Last year, Lloyds Banking Group, North East Mayor Kim McGuiness and the North East Combined Authority and the OFI announced a partnership to unlock private sector funding in the North East. The initiative focuses on the region’s thriving offshore wind and green industry.
The region's infrastructure advantages include modern energy and industrial facilities, Newcastle International Airport, deep-water ports providing direct access to the North Sea, and universities delivering world-class research and skills development.
To support job creation and private investment in the clean energy sector, Lloyds Banking Group, NECA and the Government’s Office for Investment aims to bring together public leadership, national capability and private finance to help accelerate investment, remove barriers and mobilise various types of capital to meet businesses' specific needs.