Lloyds to Lend a Third of $1.6 Billion Pledge to Renewables
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Lloyds Banking Group Plc, the U.K.’s second-biggest state-backed lender, said at least a third of the 1 billion pounds ($1.6 billion) it pledged for infrastructure projects will probably be lent to renewable energy facilities.
The bank will back projects under the government’s National Infrastructure Plan that began in October 2010, London-based Lloyds said today in an e-mailed statement. The funds were first announced in its half-year results on July 26, the bank said.