24 May 2011 09:05:13
Engineers' response to Green Investment Bank announcement
Commenting on today’s Green Investment Bank announcement, Institution of Civil Engineers director general Tom Foulkes said: "The National Infrastructure Plan set out the need for £200bn to be invested in the nation's infrastructure over the next 5 years, and for over 70% to come from private investment. The structure of the GIB was always a real test of the government's commitment to securing this investment and despite its inability to borrow until 2015 and the relatively small start up fund, today’s announcement finally brings the idea of an independent, permanent institution to reality.
"It is vital that momentum is now not lost and that industry and investors alike have confidence in the bank. Government should appoint a figure with real credibility across the infrastructure and finance communities to drive forward progress and ensure the bank can grow and deliver as one of the core funding streams for our future infrastructure."
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