GIB’s £2.3bn deals

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ENERGY minister Greg Barker will unveil the Green Investment Bank’s (GIB’s) first annual report today in Edinburgh.

Since being launched in November, the bank has been involved in deals worth a total of £2.3 billion, using £635 million of its £3bn endowment from the UK government.

Business Secretary Vince Cable, below, who will speak at a similar event in London tomorrow, said: “The GIB has a pivotal role to play in the financing of our transition to a green economy. It has made a positive start with £635m committed to projects, with every £1 invested leveraging a further £3 of private investment.”