Yorkshire-based UK Infrastructure Bank announces £55m package to support rural broadband

In total, the project will aim to provide almost 170,000 Cumbrian premises with access to fast, reliable broadband, helping to lessen digital inequality and improve economic growth, productivity, and social wellbeing in these areas.

The rollout is also backed by the Government’s Project Gigabit, which aims to provide 85 per cent of the population with gigabit-capable coverage by 2025 and reach nationwide coverage by 2030.

Ian Brown, UK Infrastructure Bank head of banking and investments, said: “Access to fast, reliable internet is a crucial part of day-to-day life, helping people to stay in touch, allowing businesses to thrive, and enabling public services to be delivered.

"We are pleased to support Fibrus in delivering improved digital connectivity for tens of thousands of premises that need it most.”

In April 2022 the UK Infrastructure Bank provided a £50m loan to support Fibrus to deliver high-capacity broadband to rural homes and businesses across Northern Ireland. This initial investment has contributed to Fibrus connecting 315,000 homes across Northern Ireland to date.

The latest announcement comes after the bank earlier this month also announced a £125m term loan and £100m debt guarantee, alongside a £25m term loan provided by NatWest, to support Quickline Communication’s large-scale broadband expansion in Yorkshire and Lincolnshire.

Yorkshire-based broadband provider, Quickline, has also secured four contracts under the UK government’s Project Gigabit programme, which on completion will connect almost 170,000 homes and businesses to full-fibre broadband in hard-to-reach rural areas across Yorkshire and Lincolnshire.

As a result of the investment, Quickline will also expand its commercial network to a further 190,000 in these rural communities.