Green Investment Bank (GIB)

DEFINITION: The financial institution was created by the UK Government in November 2012 to invest in green projects on commercial terms and mobilise other private sector capital into the UK's green economy. The GIB has invested £2.7bn in more than 85 UK green infrastructure projects, ranging across wind energy, biomass and energy-from-waste (EfW) facilities. In April 2017, the UK Government completed the sale of the GIB to Australian investment bank Macquarie today (20 April) for a sum of £2.3bn.

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