Glasgow metro scheme boosted by financial expertise agreement
A 30-year project to transform Glasgow’s public transport system, with the building of a wide-ranging metro system, has been boosted by a financial expertise agreement.
Says the local authority of the proposed mass transit scheme: “Clyde Metro, which represents a multi-billion-pound investment over a 30-year period, could better connect more than 1.5 million people to employment, education, and health services in and around Glasgow.”
Providing the financial expertise is the UK Government-owned UK Investment Bank. Says the council, the agreement is expected to “accelerate’ the delivery of the metro.
And Glasgow City Council adds, here: “[The UK Investment Bank] has been working with the council to support the development of financial and commercial plans for the mass transit project which was recently confirmed by the Scottish Government as a key priority for future transport investment.”
The announcement continues: “The relationship with UKIB has arisen through the work of our Green Economy team as part of Glasgow’s Green Deal, a transformative mission to reshape the city’s economy to help deliver equitable, net zero carbon and climate resilient living by 2030.
“UKIB has provided commercial insights around the investment case for Clyde Metro and ran a series of workshops with regional stakeholders and representatives from the public and private finance sector to explore funding options for mass transit.”
Pictured: St Enoch subway stop, Glasgow, Picture credit: Place Design Scotland
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