Green Investment Bank could move to private ownership, says chair
The chairman of the UK Green Investment Bank (GIB) has said the government-owned bank should eventually be owned by the private sector, reports Blue and Green Tomorrow.
Speaking at the National Association of Pension Funds’ investment conference in Edinburgh last week, Lord Smith of Kelvin said he would like the GIB to ultimately diversify beyond equity investing into asset management and banking.
He said that although no such transactions are being considered, sovereign wealth funds had already approached the bank asking to buy equity.
He suggested that in ten years’ time the board could ask the government to sell its stake in the bank.