Council to provide initial base for Green Investment Bank

The City of Edinburgh Council is to provide a temporary home for the Green Investment Bank while it secures a permanent location in the capital for its headquarters.

In March this year the UK Government announced that Edinburgh had beaten off competition from more than 30 other cities to be the base for the bank, which will invest in the green energy sector. The Council was a key player in the joint bid by a group of Edinburgh organisations to bring the bank to the city in a campaign which had very significant support from the public, private and academic sectors in Scotland .

Council Leader Cllr Andrew Burns said: "The decision to locate the bank in Edinburgh cements our position as a major player in financial services and clean energy, both of which provide jobs and investment for the city, and it's on that basis that the Council is supporting the bank with temporary accommodation while it's being set up." 

Lord Robert Smith, who chairs the Green Investment Bank, said: "We're grateful for the assistance and support we've received, not only from the Council but also the Chamber of Commerce, Scottish Financial Enterprise, parliamentarians and other leading figures from the community. Collectively they recognised the unique benefits of bringing the bank to Edinburgh and formed an excellent partnership that presented an compelling case for the city."

Space for around 10 staff in the Council's offices at Waverley Court was identified during ongoing work to make more efficient use of its properties, and the first few staff members have already taken up post in the building.

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