Minister makes case for UK Green Investment Bank to be in Edinburgh

STV
Fergus Ewing: Making case for bank in Edinburgh© STV

Energy Minister Fergus Ewing will make the case for the UK Green Investment Bank to be based in the Scottish capital.

Mr Ewing will meet members of Edinburgh's Green Investment Bank Group as part of a last-minute push to bring the project to the city.

He will also lead a debate in Holyrood in support of Edinburgh's bid.

A total of 32 towns and cities across the country have put themselves forward as potential hosts for the headquarters of the proposed new institution.

The UK Government is setting up what it describes as "the world's first investment bank solely dedicated to greening the economy".

A decision on where it will be based is expected by the end of this month.

Mr Ewing argued having the new bank in Edinburgh would give the UK the best chance to become a centre of excellence in this area.

The Energy Minister said: "Edinburgh is the only location in the UK which brings together both finance and the clean energy industry in a single location.

"It has an unrivalled concentration of industry skills and experience.

"Locating the Green Investment Bank in Edinburgh will ensure the best possible chance for the UK to develop as the European centre of excellence in this sector."

Edinburgh submitted its case for becoming the Green Investment Bank's base to the Government's Department for Business, Industry and Skills last month.

Both Edinburgh City Council and Glasgow City Council have already backed the capital's bid, as has the Energy Technology Partnership, a body which involves universities from all over Scotland.