Montgomery County Green Bank Convenes First Meeting of Full Board of Directors

For Immediate Release: Thursday, July 21, 2016

The Montgomery County Green Bank (MCGB), the nation’s first local Green Bank, will convene the inaugural meeting of its full Board of Directors on July 28 at 2:45 p.m. at the Department of Environmental Protection, 255 Rockville Pike, Suite120, Rockville.

The MCGB will promote investment in clean energy and energy efficiency across Montgomery County by providing access to low-cost, long-term financing for clean energy projects. The Green Bank model uses innovative financial mechanisms to attract private investment.

The MCGB Board of Directors was selected by a competitive selection process overseen by the County’s Department of Environmental Protection. The Board includes nationally and internationally recognized experts in finance, law, policy and operations. Professional bios of individual Board members are available at http://bit.ly/MCGB_BOD2016.

The MCGB, incorporated as a tax-exempt corporation in Maryland, aims to build off of state Green Bank models that have been able to attract investments of $10 in private capital for each $1 of public funding. The development of the Montgomery County Green Bank is supported by the Coalition for Green Capital, a 501(c)(3) nonprofit, that works to establish Green Banks across the country and the world. Visit www.coalitionforgreencapital.com for more information on the Green Bank concept and the organization.

For more information about the Green Bank, or to attend the Board of Directors meeting, contact Michelle Vigen, Department of Environmental Protection at michelle.vigen@montgomerycountymd.gov or 240-777-7749.

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Release ID: 16-439
Media Contact: Judy Stiles 240-777-6507