Sale of High Speed 1 to fund green investment bank
Chancellor Alistair Darling has announced the creation of a green investment bank that will provide funding for sustainable transport projects.
Speaking during the budget, Mr Darling said the bank would control £2bn of equity and would, in the first instance, lend to green projects, such as construction of wind farms.
The bank will receive £1bn of government funding, which will be raised from selling assets such as High Speed 1, with the £1bn balance being sourced from the private sector.
HS1 trains line up at St Pancras International station. Picture: www.upmain.com
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