GIB sold to Australian bank

The government has confirmed the sale of the Green Investment Bank to Macquarie. 

The Australian financial services business, which paid £2.3bn (£1.7bn to buy the bank, with a further £600m to fund existing projects), promised to invest at least £3bn in the green economy over the next three years.

The bank has invested £3.4bn since it was established in 2012 to fund green infrastructure projects.

‘This deal gives us the best of both worlds,’ said climate change minister Nick ...

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