08 Mar '12, 10am

Edinburgh to host Green Investment Bank - with a little help from London

The government has revealed its £3bn Green Investment Bank (GIB) will be headquartered in Edinburgh, but conduct transactions from London, following a fierce campaign from Scottish businesses to secure the bank for the city. Business Secretary Vince Cable today revealed that Edinburgh had won the bid to host the Green Investment Bank, but a transaction team and project financing team will also initially be based in a London office to help drive investment. He said the arrangement would deliver a greater commercial reach nationally than could be achieved from one location. "Harnessing the strengths of Edinburgh and London will support the Green Investment Bank's ambition to become a world leader," he said. "Edinburgh has a thriving green sector and respected expertise in areas such as asset management. London, as the world's leading financial centre, will ensure that the GI...

Full article: http://www.businessgreen.com/bg/news/2157943/edinburgh-ho...

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