NatWest Group has announced a £20bn funding commitment over the next 10 years to drive economic growth across the North of England.

The commitment, announced today by NatWest Group’s CEO Paul Thwaite at the Great North Investment Summit, forms part of the bank’s Growing Together plan to drive UK economic growth by backing powerful regions.

The £20bn ambition will support investment in areas that underpin regional growth and resilience, including energy, transport, infrastructure, regeneration and housing.

NatWest Group will do this by providing direct funding, sharing risk with partners and helping bring in investment from other sources.

Paul Thwaite, CEO of NatWest Group, said: “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.

“NatWest Group has deep roots in the North and an on-the-ground presence across its many communities, so we understand both the opportunity and what it takes to deliver it.

“Our role isn’t just to provide finance, it’s to connect capital with local ambition – working in partnership with combined authorities, business and investment partners to accelerate growth.”