Cable welcomes green bank bids

Published on Wednesday, 01 February 2012 06:56
Posted by Scott Buckler

The Business Secretary Vince Cable has received 32 bids from across the UK wanting to host the Green Investment Bank (GIB)

The process for finalising the location of the GIB was announced last month with interested parties invited to self-assess against a common set of criteria, to demonstrate whether they would be an effective base for the GIB.

Business Secretary Vince Cable said:

I am delighted that the Green Investment Bank has fired the imagination of so many public and private sector groups keen to host this world-first institution. They all have a role to play in helping the UK seize the benefits of a transition to a low carbon economy.”

The Green Investment Bank will play a key role in the Government’s move towards a green economy, complementing other green policies aimed at encouraging private sector investment into green infrastructure.

All the submissions will now be reviewed against the criteria by a review panel. Advice will then be put to Vince Cable who will announce his final decision next month.

 

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