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Waste Disposal: Private Finance Initiative

Volume 496: debated on Monday 20 July 2009

To ask the Secretary of State for Environment, Food and Rural Affairs what assessment he has made of the effect of the credit crunch on schemes for waste disposal plants under the private finance initiative. (286795)

DEFRA continually assesses the relevant finance and construction markets to maintain an up to date understanding of the effect that conditions in credit markets may have on the private finance initiative waste projects. This includes meeting with banks, contractors and waste companies as well as individual local authorities.

Our findings show that while tightening credit conditions since 2008 have had an effect on the availability of finance, commercial lenders are maintaining strong interest in financing waste private finance initiative projects. We also continue to see good evidence of new entrant interest from contractors in recent bid lists.