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U.K. Sets Up Company for 3 Billion-Pound Green Investment Bank

The British government set up U.K. Green Investment Bank Plc as part of plans for a 3 billion-pound ($4.7 billion) lender for investments in low-carbon power.

Green Investment Bank, to become operational this year, will “shortly” appoint senior officials, a spokesman for the Department for Business, Innovation and Skills said today. The plan is subject to European Commission approval for state aid.

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