L

Lord Hendy of Richmond Hill (Lab)

Speaking in the House of Lords on 21 October 2025

Debate

Great British Railways: Rolling Stock

Contribution

My Lords, EUROFIMA is a long-established, supranational financial institution, established as a joint stock company by an international treaty, the convention, signed by 25 European member states. It is dedicated to financing public passenger railway rolling stock and related infrastructure, as well as the modernisation and renewing of related equipment. As part of developing the rolling stock and infrastructure strategy, my department is exploring a range of financing structures to support investment in partnership with private finance. This includes active engagement with EUROFIMA to assess how its financing mechanisms could support future investment in the UK rolling stock market. If, following due diligence, EUROFIMA is considered an appropriate avenue to go down, then we would aim to accede by the end of 2026.

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