Capital in talks for new Green Bank

THE UK government is to open talks with Edinburgh's financial sector about the possibility of locating the new Green Investment Bank there.

Scotland's capital was the first city to launch a bid to host the 3 billion bank, which from 2015 will be the driving force behind investment in green and renewable projects in the UK.

Scottish Secretary Michael Moore, who formally accepted the bid from a delegation led by Edinburgh Chamber of Commerce, held discussions yesterday with Business Secretary Vince Cable about the location.

Mr Moore confirmed the Department for Business, Innovation and Skills was to hold talks with representatives from Edinburgh.

He said: "I have always made a strong case for the Green Investment Bank coming to Scotland and will continue to do so within government and elsewhere.

"No decision has been made on the location yet and I welcome the fact that the Department for Business, Innovation and Skills will be speaking directly to the financial sector in Edinburgh on the issue in the near future."

At the moment Edinburgh's main rival is the City of London, although bids are also expected from Liverpool and Sheffield.