Investment Strategy (ISNI)
One of SIB’s core statutory responsibilities is advising the Executive on the development and successful implementation of a long-term Investment Strategy for Northern Ireland (ISNI) as set out in the Strategic Investment & Regeneration of Sites (Northern Ireland) Order 2003.
SIB, on behalf of Ministers, is responsible for creating a draft ISNI, in collaboration with The Executive Office, Department of Finance and spending departments. It is one of the Executive’s three high-level policy documents, consistent with the Executive’s Programme for Government (PfG) and Budget, and will be supported by other policies including Green Growth, 10X and the Energy Strategy.
The ISNI sets out priorities and objectives for investment in infrastructure such as roads, transport, schools, health facilities, social housing, water infrastructure and public sector office accommodation.
Since the development of the last ISNI in 2011, over £14.9 billion has been spent in maintaining, upgrading and extending our regional infrastructure, an average of £1.48 billion per year, or £8,000 per person.
Over 400 projects have been completed, thirty with a value of more than £100 million.
To read the draft ISNI, which is now in development following the public consultation, go to ISNI website
The new Investment Strategy for Northern Ireland
SIB has undertaken extensive stakeholder engagement in the creation of a new draft ISNI.
This period of engagement highlighted the need for us to adopt a different approach to infrastructure planning. An approach that prioritised collaboration across government departments, arms-length bodies, the private sector and citizens and one which took a long-term view of our core objectives.
The new Investment Strategy for Northern Ireland will set key objectives for infrastructure investment in the region for the next thirty years.
The draft strategy sets out five key objectives for infrastructure investment over this period.
The five key objectives
These five themes of the strategic framework are the cornerstones of the strategy and define how we hope to clarify and achieve the vision set by the Programme for Government.
- Decarbonise our economy and society
- Strengthen our essential services
- Enhance our communities and places
- Build a strong, connected and competitive region
- Maximise the benefits from new technology and innovation
For more information on each of these objectives please visit the http://www.isni.gov.uk/ website.
SIB, on behalf of the Executive, is responsible for creating a draft ISNI, in collaboration with The Executive Office, Department of Finance and spending departments.
During the creation of the draft strategy, SIB engaged with a wide variety of departmental officials, private sector contractors, community representatives and other stakeholders.
These infrastructure experts and interested parties helped SIB formulate the key objectives of the strategy and some of the investment priorities.
The Public Consultation is now closed however if you would like to engage with us or have any questions, please get in touch at email@example.com. For more information visit the ISNI website.
SIB’s ongoing role
SIB will monitor the delivery of capital projects funded under ISNI and will ensure the ongoing development, application and performance monitoring, reporting and review of the strategy.
SIB will ensure there is ongoing collaboration and engagement with departments, industry and citizens regarding investment in our infrastructure.
SIB issues regular reports to MLAs, chairs of Assembly committees and industry stakeholders, and maintains the ISNI website and the investment pipeline to inform stakeholders and the public on progress with schemes in development that are funded under ISNI.