Green Investment Bank
On 24 May 2011, Vince Cable announced the detailed proposals for a Green Investment Bank in the House of Commons and published the Update on the Design of the Green Investment Bank (PDF, 484 Kb) . This document lays out the Government’s proposals for a Green Investment Bank, including the rationale, high level architecture, potential products and implementation plan.
As laid out in the May announcement, the GIB will be implemented in three phases. This reflects State Aid constraints as well as borrowing being permitted only from 2015 and under certain conditions:
- Phase I – Incubation: April 2012 to achievement of state aid approval. The Government will make direct financial investments prior to the establishment of the GIB to accelerate investment in the green economy.
- Phase II – Establishment: Following state aid approval, the GIB will be established as a stand-alone institution in line with the proposals in this document.
- Phase III – Full borrowing GIB: From April 2015 the GIB will be given powers to borrow (subject to public sector net debt falling as a percentage of GDP). This will enable the upscaling of the GIB’s activity.
The Department of Business Innovation and Skills (BIS) is leading a cross-Whitehall team of officials and other specialist advisors. They will prepare both for the implementation of Phase 1 by April 2012 and also the successful establishment of Phase 2, as soon as possible following State Aid approval.
BIS now wishes to procure external consultancy support in order to work towards the successful establishment of Phase 1 and Phase 2 of the GIB. The following opportunity is available:
Economic Research & Analysis
Building on the considerable work that has already been undertaken, BIS wishes to procure further external consultancy support in respect to developing the analytical evidence base underpinning the establishment of the Green Investment Bank and requests proposals to carry out this work.
The Pre-qualification Questionnaire, which incorporates the Specification of Works, may be downloaded through the link below. In summary, the objective of this project is to provide an additional, flexible, economic resource to the UK government to inform ongoing analysis to develop the value for money assessment, support the intended application for State Aids clearance and contribute to the ongoing work around the design and operation of the GIB.
GIB Pre-qualification Questionnaire (DOC, 359 Kb)
Responses to questions received: PQQ - green investment bank - economic research and analysis (PDF, 109 Kb)
