First London borough secures Green Investment Bank loan

The Green Investment Bank has agreed a £7m loan deal with Barking and Dagenham Borough Council for energy-efficient street lighting as it nears privatisation

Barking and Dagenham Bourough Council is to get a £6.8m loan from GIB for energy efficient street llighting. Photograph: Nickolay Stanev / 123RFBarking and Dagenham Borough Council has secured a £6.8m loan from the Green Investment Bank (GIB) to finance installation of almost 15,000 low energy LED streetlights.

The deal, announced on 22 December, makes it the first London borough and fifth UK council to receive a loan from the GIB since the bank was set up in 2012.

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