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European Commission approves UK’s green investment bank

The European Commission has given the go ahead to the UK to put £3 billion towards a bank investing in environmentally friendly projects.

The Green Investment Bank will invest in projects that have failed to obtain sufficient funding from other sources, and it is part of the UK government’s efforts to reduce carbon emissions by strengthening its green economy. The Commission said that the programme is in line with its regulations in the EU single market and has granted approval to the bank for four years.

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