Proposals to be unveiled [in a speech today by Conservative Shadow Chancellor of the Exchequer George Osborne] include a “green investment bank” designed to “spur economic growth by financing the next generation of British green technology companies”.
The Tories said the bank would be “similar” to state banks in Spain and Germany that back investment in strategically important sectors.
Financial Times, 23 November 2009
I suggest the UK sets up a British development bank in order to finance our shift to a zero carbon economy.
At the moment, we have several development institutions which finance clean-tech and renewables projects, such as the EIB, EBRD and World Bank, though they mainly finance them in emerging market countries, or in certain countries ear-marked by the EU as big receivers of renewable subsidies (Spain and Germany).
The UK needs its own institution to drive development of the green economy here. State-owned development banks have worked well in Asian economies, particularly for critical infrastructure projects which require long-term lending.
Jules Evans on Global Dashboard, 29 April 2009
