Clegg said early priorities for investment also included energy efficiency and waste-to-energy schemes. The bank will have full operational independence "as soon as possible" and had a guaranteed 3 billion from the Treasury as initial capital. It will have borrowing powers from April 2015 as long as the target for government debt reduction has been met.
A green light for green investment
THE Green Investment Bank will start backing projects including offshore wind schemes from April next year, Deputy Prime Minister Nick Clegg said yesterday.