Green Investment Bank will be based in London and Edinburgh

BRITAIN’S Green Investment Bank (GIB), designed to spur private sector investment in low-carbon projects, will be based in Edinburgh and London, the government said yesterday.

The headquarters of the GIB will be located in Edinburgh, with its main transaction team based in London to enable a greater commercial reach nationally than could be achieved from one location, the government’s department for business innovation and skills said in a statement. “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 GIB’s transaction team can hit the ground running,” said business secretary Vince Cable.