David Cameron: UK green bank ‘leading the world’

Prime Minister David Cameron has hailed the UK Green Investment Bank (GIB) and the progress it has made. He visited the headquarters in Edinburgh last year, five years after the […]

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By Priyanka Shrestha

Prime Minister David Cameron has hailed the UK Green Investment Bank (GIB) and the progress it has made.

He visited the headquarters in Edinburgh last year, five years after the government committed to establishing the organisation.

GIB is the first bank of its kind in the world, which was set up by the UK Government to invest in new green infrastructure projects across the UK.

It was officially launched in November 2012, with £3.8 billion of funding from the government and has invested in areas including energy efficiency, offshore wind and waste management.

Mr Cameron said: “It has now been up and running for two years and has already backed over 40 new green energy infrastructure projects, bringing £7 billion of new investment into every part of the UK.

“From its headquarters in Edinburgh it is leading the world in finding innovative solutions to make sure that the UK is at the forefront of the next generation of energy infrastructure.”

Edinburgh was picked as the GIB head office, beating 34 other UK cities.