Glasgow Joins Forces with UK Infrastructure Bank to Expedite Clyde Metro Development
Glasgow has teamed up with the UK Infrastructure Bank (UKIB) in a bid to fast-track the growth of the Clyde Metro, a mass transit initiative that has been designated as a top priority for future transport investments by the Scottish Government.
The partnership with UKIB is a product of Glasgow’s Green Deal, a ground-breaking endeavor by the city’s Green Economy team to transform Glasgow’s economy, ultimately achieving equitable, net-zero carbon, and climate-resilient living by 2030.
Over the course of 30 years, the Clyde Metro is expected to garner multi-billion-pound investments, eventually connecting over 1.5 million people in and around Glasgow to improved access to employment, education, and healthcare services.
By collaborating with the city council, UKIB is offering support for the financial and commercial planning of the mass transit project. The Bank has facilitated a series of workshops with regional stakeholders, along with representatives from public and private finance sectors, in order to explore various funding possibilities for mass transit.
This pilot project signals the start of a broader strategic alliance with UKIB, which will assess Glasgow’s net-zero investment efforts and pinpoint potential areas for future collaboration or lending opportunities.
Glasgow City Council Leader and Chair of the Glasgow City Region Cabinet, Cllr Susan Aitken, commented on the transformative nature of the Clyde Metro, emphasizing its potential to boost economic growth and development, as well as its contributions to the city’s decarbonization goals.
John Flint, CEO of the UK Infrastructure Bank, highlighted the crucial role local authorities have in achieving net-zero and promoting regional and economic growth, which aligns with the Bank’s primary objectives.
As the project progresses, valuable insights will be gleaned from mass transit and bus pilot schemes in collaboration with the West Yorkshire Combined Authority and Transport for Greater Manchester.
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