Green Investment Bank:Written question - 57977

Q
(Brighton, Pavilion)
Asked on: 15 December 2016
Department for Business, Energy and Industrial Strategy
Green Investment Bank
Commons
To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to his Department's report to Parliament on the proposed disposal of shares in the UK Green Investment Bank, Cm 9214, if he will make it his policy that the preferred bidder for the Government's shares in the UK Green Investment Bank will, as a condition of the sale, be required to give an undertaking to the Government to provide significant new capital annually to that Bank.
A
Answered by: Mr Nick Hurd
Answered on: 22 December 2016

The Government has set out its plans for the sale of the Green Investment Bank in the document “Green Investment Bank: sale of shares” laid before Parliament on 3 March 2016.

The sale process is commercially confidential and Government will not disclose details of our engagement with bidders. The Government has committed to lay a report before Parliament on the sale of the Green Investment Bank, as soon as reasonably practicable after a disposal of shares has taken place, and this is also a requirement in the Enterprise Act 2016.

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