Lloyds Banking Group PLC (ADR)(NYSE:LYG) Exceeds Its Target To Provide Financial Assistance To United Kingdom Infra Project

0
711

Lloyds Banking Group PLC (ADR)(NYSE:LYG) announced that it had surpassed the maximum limit set by the UK authorities to provide financial assistance to UK infrastructure projects. As per the reports, the maximum limit for the year was £10 billion, but Lloyds has allocated over £11.3 billion up till now.

Insights of The Matter

The £10 billion limit for the year set by the Lloyds and UK authorities was in conjunction with its attempt to provide financial support to key infrastructure projects that are run by the government under National Infrastructure Plan. As per the reports, Lloyds looks forward to providing a funding of up to £30 billion by the end of 2017 to government as part of its objective to make Britain a prosper country.

There are various programs, such as Intercity Express Program that includes maintenance and delivery of depots and train sets, Thameslink Rolling Stock Program that comprises of maintenance and delivery of new depots and trains. These initiatives need huge financial assistance in order to get completed on or before the deadline.

There are other projects also that need government or private funding. They include the development of Thames Tideway Tunnel, installation of Galloper Offshore Wind Farm, and quite a few others.

The senior management of Lloyds is quite satisfied with the way things are moving at present and hopes that situation will continue to improve in the future. According to Guillaume Fleuti, Head- Infrastructure & Energy, Lloyds, raising capital for developing key infrastructure is the first step towards delivering excellent economic growth.

Lloyds Banking Group PLC (ADR)(NYSE:LYG) is ahead of its schedule at the moment concerning funding, and if things continue to fall in line, it will finish the targeted £30 billion by the end of 2016. Further steps taken by the company to live up to everyone’s expectations will be announced at a later date.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.