UK: Green Investment Bank officially open

28. November 2012 | Markets & Trends, Industry & Suppliers, Financial & Legal Affairs | By:  Shamsiah Ali-Oettinger

The new Green Investment Bank has been officially opened. The institution has been funded with £3 billion (€3.7 billion) government funds.

Cable says, "It will place the green economy at the heart of our recovery and position the UK in the forefront of the drive to develop clean energy".

The GIB is headquartered in Edinburgh and will mobilise additional private capital to make a significant contribution to the development of a green economy.

Business Secretary Vince Cable says, "The Green Investment Bank - a key coalition pledge - is now a reality. It will place the green economy at the heart of our recovery and position the UK in the forefront of the drive to develop clean energy."

Cable believes that having the headquarters in Edinburgh is a vote of confidence to the commitment to help Scotland lead the green revolution.

UK Green Investment Bank Chair Lord Smith said, "The Green Investment Bank has the potential to be a game-changing component of the UK's low carbon economy, and a profitable centre of excellence in specialist and renewable investment."


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