Councils and business bid for green bank
Local government and businesses across the UK have sent 32 bids expressing interest in housing the Green Investment Bank (GIB).
Locations, which produced self-assessment submissions to the Department for Business, Innovation and Skills (BIS) range from major cities such as Birmingham Cardiff and London, to rural county Cornwall down to small towns Bicester and Torbay.
Business secretary, Vince Cable, was delighted delight that the Green Investment Bank had ‘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,’ added Dr Cable.
All submissions for hosting the bank – which will be capitalised with £3bn funds to encourage private sector investment towards a green economy – will be reviewed by a panel against a common set of criteria.
Recommendations will then be placed before Dr Cable who is likely to announce a final decision next month.
Locations which submitted bids to host the Green Investment Bank (GIB) are:
- Coventry and Warwickshire
- Milton Keynes
- Tees Valley