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GIB reveals £2.3bn commitment to green infrastructure transactions

Since its launch in 2012, GIB has committed funds to 11 green infrastructure transactions with a total value of £2.3 billion.

This direct commitment of £635 million has mobilised £3 of private sector money for every £1 invested by GIB in each of its priority sectors.

GIB chairman Lord Smith of Kelvin said: ‘We are building a new institution and want to behave with the highest standards of transparency and accountability, right from the start. Our Annual Report sets out full details of our investments and operations during our first few months; including details of our green impact.”

GIB chief executive Shaun Kingsbury said: ‘In our first, short year we’ve made great strides in putting in place the foundations upon which we will build an enduring institution. It remains early days but our first results show that we can be successful in achieving our double bottom line of being green and behaving commercially’. 

GIB business secretary Vince Cable who will be attending the annual review meeting in London said the Green Investment Bank has a pivotal role to play in the financing of our transition to a green economy. He added that the bank has a number of strong deals in the pipeline, which will help it to build on the solid foundations that have now been laid.

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