ICE response to Green Investment Bank announcement
Commenting on today’s Green Investment Bank announcement –
Institution of Civil Engineers (ICE) Director General Tom Foulkes said:
“The National Infrastructure Plan set out the need for £200bn to be invested in the nation’s infrastructure over the next 5 years, and for over 70% to come from private investment. The structure of the GIB was always a real test of the Governments commitment to securing this investment and despite its inability to borrow until 2015 and the relatively small start up fund, today’s announcement finally brings the idea of an independent, permanent institution to reality.
“It is vital that momentum is now not lost and that industry and investors alike have confidence in the Bank. Government should appoint a figure with real credibility across the infrastructure and finance communities to drive forward progress and ensure the Bank can grow and deliver as one of the core funding streams for our future infrastructure.”
More information
For further information
Kate Ison, ICE Media Relations Manager, t: 020 7665 2104, e: kate.ison@ice.org.uk
Notes to editors
The Institution of Civil Engineers (ICE) was founded in 1818 to ensure professionalism in civil engineering. It represents 80,000 qualified and student civil engineers in the UK and across the globe. The ICE has long worked with the government of the day to help it to achieve its objectives, and has worked with industry to ensure that construction and civil engineering remain major contributors to the UK economy and UK exports.