Great Britain Creates Bank for Climate Friendly Enterprises
With the New Development Bank, the British government wants to enable investments in climate-friendly infrastructure. This bank can then finance clean energy, transport, sanitation and waste projects across all regions of the UKShare it Ministry of Finance With.
Finance Minister Rishi Sunak announced ConceptThat the bank would help develop the country’s infrastructure “better, fairer, and greener” in order to significantly reduce the country’s carbon dioxide emissions.
The starting capital of the “Green” bank: about 14 billion euros
The British Infrastructure Bank will initially be equipped with a capital of about twelve billion pounds (about 14 billion euros) and will be able to issue government guarantees of up to 10 billion pounds. The ministry said this would help unlock more than £40 billion in total investment.
Prime Minister Boris Johnson’s government depends on expanding infrastructure in order to create equal living conditions across the country. Outside of big cities like London, many railways are in poor condition and there are big gaps in public transport. So hundreds of billions of pounds will be invested in infrastructure in the coming years.
The new bank, headquartered in Leeds, will work with the private sector and regional policy to support projects that combat climate change and boost economic growth.