Green Investment Bank bound for Capital

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THE chairman of the Green Investment Bank (GIB) has confirmed that staff responsible for negotiating financial deals involving the new institution will be based in Edinburgh as well as London.

Lord Robert Smith said that while the bank’s financing and transactions functions were currently being carried out in London, he intended over time to establish a team with a similar role here as well.

Edinburgh West Liberal Democrat MP Mike Crockart, one of those who campaigned successfully to bring the new bank’s headquarters to the Capital, said: “This is a welcome commitment to increase the capacity of the Green Investment Bank in Edinburgh.

“We never had any doubt that Edinburgh could fulfil all the functions necessary for the GIB and it is exciting to see that Lord Smith shares that confidence.”