New era for banking as Green Investment Bank unveiled
£3 billion of public money will be initially be pumped into the Green Investment Bank, which is one of the government’s centrepieces of the Green Deal. The bank is expected to provide the capital to turn the UK into a low-carbon economy.
Nick Clegg has labelled the Green Investment Bank “a real legacy of the coalition government’s green commitment.”
The Green Investment Bank will begin making investments in low-carbon infrastructure projects within the next year, and could even get involved in the Green Deal, and helping provide loans to homeowners wishing to make energy-efficient, low-carbon improvements to their home.
The positive part about the Green Investment Bank is that it will remain totally independent from the government. Therefore the government won’t be able to interfere and push their plans or projects onto the Green Investment Bank.
The hope is that the bank will be able to inject £15 billion into the green economy by 2015, and handsomely repay the £3 billion that they have initially been given.
- Green Investment Bank must function like a “real bank” (train4tradeskills.wordpress.com)
Posted on May 23, 2011, in construction jobs, construction news, Electrical News, Plumbing News, train4tradeskills and tagged Coalition government, environment, green deal, Green economy, Green Investment Bank, Low-carbon economy, t4ts, train 4 trade skills, train4tradeskills. Bookmark the permalink. 1 Comment.