Current status: Answered by John Swinney on 6 June 2012
To ask the Scottish Executive when the Green Investment Bank will be (a) in place and (b) fully operational.
The public company, UK Green Investment Bank PLC, was registered in Scotland on 15 May 2012. On 25 May, Lord Smith of Kelvin was announced as the new chair of the Green Investment Bank and Sir Adrian Montague as the bank’s senior independent director. The process to recruit a CEO has just started. It is envisaged that the bank will be operational in Edinburgh by autumn 2012, subject to state aid approval.