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Location

The headquarters of the UK Green Investment Bank (GIB) will be located in Edinburgh, with a London office.

This decision will enable the bank to benefit from the strengths of the two cities, supporting the Government’s ambition for the bank to become a world leader. It will also enable a greater commercial reach nationally than could be achieved from one location.

An established centre for financial services, Edinburgh will provide the ideal location for the GIB’s corporate headquarters, asset management and back office functions.

Meanwhile London’s strengths in large scale project and structured finance transactions provide the optimal base for the bank’s major transactions operation.

Great Britain map of Green Investment Bank bid locations

Click on relevant location to access self assessment documents, or see the list below. (Map contains Ordnance Survey data © Crown copyright and database right 2012.)

Edinburgh and London emerged as the leading locations following a detailed process in which 32 interested locations self assessed against a set of common criteria. Key criteria included ability to recruit and retain the necessary specialist staff and ability to engage effectively with the transactions ecosystem.

Locating in Edinburgh with a transactions team in London will ensure that the GIB is able to operate effectively and achieve its mission of mobilising the additional investment needed to accelerate the UK’s transition to a green economy.

It is anticipated that the GIB will help to stimulate a broader-based national financial services sector, with functions moving from London over time. Detailed operational decisions would, however, be a decision for the GIB Board.

Work is currently underway to recruit the Chair and Senior Independent Director, with a view to the bank being fully operational by Autumn 2012 subject to state aid approval.

Once established, the GIB will operate at arm’s length from Government, with the Government acting as its sole shareholder. The Edinburgh headquarters will be specified in the company’s constitutional documents.

See the written ministerial statement 'Green Investment Bank: decision on location' (PDF, 67 Kb)