New bank will boost green industries in Scotland — Carmichael

The UK Government’s new Green Investment Bank (GIB) will help generate thousands of sustainable jobs in Scotland according to Isles MP Alistair Carmichael.

Mr Carmichael was commenting after the launch of the GIB yesterday. Speaking in Edinburgh, where the bank is headquartered, business secretary Vince Cable confirmed that the bank had made its first investments and was ‘open for business’.

Mr Carmichael said: “Scotland has been in the vanguard of the renewable energy industry for many years but it is clear that problems in obtaining financial support have hindered some projects in the past.

“The UK Government’s Green Investment Bank will provide backing for new schemes and help generate thousands of sustainable green jobs across Scotland.”

“This is a win-win situation for both Scotland and the UK as a whole. Through the work of the GIB in Edinburgh, the UK will benefit from the expertise and technologies that are being developed at places like EMEC in Orkney and other parts of Scotland. Scotland benefits from the financial expertise and resources that the UK government can bring to bear.

“News that the bank is now open for business is welcome. The money that the UK government is putting into the sector will pay real economic and environmental dividends.”