Green Investment Bank faces 'huge challenge'

Deep recession has raised the stakes for the UK’s newly launched Green Investment Bank

The UK Green Investment Bank (GIB) opened for business at its Edinburgh headquarters on 28 November, launching £85m of project funding on waste, bioenergy and energy efficiency. 

But the launch comes amid a rapidly worsening slump in the long-term financing market, particularly in offshore wind and waste as other banks pull back. GIB’s chief investment officer Ian Nolan stressed: “Our planning assumption is that that’s a permanent structural shift. It’s a huge challenge.”

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