Funding council boosts PFI sales pitch

The Higher Education Funding Council for England has announced new arrangements for assessing Private Finance Initiative projects that could make them more attractive to potential private sector bidders. HEFCE will now offer a "sign-off" facility to all PFI projects submitted to it including those under its Pathfinder initiative. Under this arrangement projects must show they are commercially viable and affordable before institutions advertise for bids from the private sector. HEFCE says the private sector will take "considerable comfort" from this and such projects should find it easier to attract serious private bidders.