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Great Britain sets up a bank for climate protection

With a new development bank, the British government wants to implement investments in climate-friendly infrastructure. The Treasury Department has announced funding for important projects for clean energy, transportation, sewerage and waste in all parts of the country and territories in the United Kingdom.

The infrastructure bank will initially be fitted with a capital of twelve billion pounds (approximately 14 billion euros) and can provide state guarantees in the amount of ten billion pounds. The ministry said it would help free up more than $ 40 billion in total investment. For comparison: Germany’s financial size KfW About 135 billion euros last year.

Prime Minister Government Boris Johnson It relies on the expansion of infrastructure as a key component in the plan to create uniform living conditions across the country. Outside of big cities like the capital London, roads and railways are in poor condition and there are large gaps in local public transport. Hundreds of billions of pounds will be invested in infrastructure in the coming years.

The new bank will work with the private sector and programs to promote economic growth in the face of regional policy and climate change. The company is located in Leeds, north of the UK.