Green Investment Bank to be partially privatised
The government is to sell “at least a majority” of its shares in the Green Investment Bank (GIB), it announced this morning.
The bank, which was launched in 2012, has so far provided funding of £2 billion to 50 projects. In announcing the plan to partially privatise the GIB, business secretary Savid Javid said the bank was now making and profit, with the rate of return on its portfolio around 9%.
“The detail and timing will depend on the outcome of discussions, but our plan is now very clear: to sell at least a majority of the government’s shares to private investors during the lifetime of this parliament,” he said.
Javid highlighted how the bank’s approach to investment over the past three ...