Press Release: State Aid: Commission clears creation of UK Green Investment Bank

Author (Corporate)
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Series Details IP/12/1110 (17.10.12)
Publication Date 17/10/2012
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The European Commission has concluded that public funding of 3 billion GBP (around €3.7 billion) granted by the United Kingdom (UK) for the creation of a bank investing in environmentally friendly projects, is in line with EU state aid rules. The Green Investment Bank (GIB) will invest only in projects that could not obtain sufficient funding from the markets. The set-up of the GIB is expected to further the UK's 2020 target in reducing carbon emissions and accelerate the development of a "green economy".

Source Link Link to Main Source http://europa.eu/rapid/press-release_IP-12-1110_en.htm
Related Links
UK: Department for Business, Innovation and Skills: Press Release, 17.10.12: UK Green Investment Bank gets green light from Europe http://news.bis.gov.uk/Press-Releases/UK-Green-Investment-Bank-gets-green-light-from-Europe-681c7.aspx
United Kingdom: Scotland Office: Press Release, 28.11.12: UK Green Investment Bank opens for business http://www.scotlandoffice.gov.uk/scotlandoffice/18209.html
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