Source: H&V News
Business secretary Sajid Javid confirmed that the government will proceed with plans to bring private capital into the Green Investment Bank (GIB) during a speech at the Bank’s Annual Review event in London today (25 June).
In his speech he said the time is right to begin the process of moving the GIB into private ownership. The intention to bring in private capital was first announced at Autumn Statement in 2013.
Business Secretary Sajid Javid said: “The Green Investment Bank has shown that investment in green technologies can be a profitable business. The challenge now is to build on this success.
“The bank will still be green, still be profitable, still be a market-leader in financing environmentally sound infrastructure. But free from limitations on where it can borrow money and EU regulations on state aid, the bank will be able to access a much greater volume of capital.”