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Green Investment Bank comes to Edinburgh

March 8, 2012 10:01 AM
Originally published by Scottish Liberal Democrats

The UK Government has today announced that Edinburgh will be home to the UK's Green Investment Bank.

Commenting on the announcement Edinburgh's Liberal Democrat MP Mike Crockart said:

"The Business Secretary has today made the right decision and made it for the right reasons. For the past 16 months I have been arguing that Edinburgh is the best choice for the location of the Green Investment Bank because of its strength in depth in both financial services and green technology. It is this co-location that will make the bank a success and make Edinburgh a European centre of excellence for green investment.

"Throughout that time I have been championing Edinburgh as the natural home of the Green Investment Bank. The city's bid team put together an exceptional case for our capital and today's announcement reflects that.

"Edinburgh's case was supported by a group which started with the Edinburgh Chamber of Commerce but grew to encompass more than 25 partners representing the best from the public and private sectors. Edinburgh's team has set the agenda from the start and helped to clarify the criteria for siting the ground-breaking institution.

"The bank will play a vital role in our transition to a low-carbon economy and will provide a welcome boost to the city's economy, bringing with it an initial £3 billion to invest in green projects as well as the creation of 50-70 jobs by 2015.

"The investment bank is another way in which the Liberal Democrats in Government are working to rebalance our economy; making it more sustainable whilst also meeting green credentials.

"In his speech on the future of Scotland in Edinburgh the Prime Minister described Scotland as a 'pioneering country'. Today the UK Government has demonstrated its belief in Edinburgh as a pioneer of the green revolution and a vital part of the UK's drive towards a sustainable and green future."