A UK Government initiative in the late 1980s to introduce the benefits of private sector management and finance into public sector projects, such as road building and the building and running of hospitals. The PFI differs from privatisation in that responsibility for 'public service' aspects of the project e.g. clinical responsibility in hospitals remains in the public sector.
Public Finance Initiatives is the term used in the United Kingdom to describe partnerships between the private sector and the public sector for the purposes of designing, planning, financing, constructing and/or executing projects which are generally regarded as being the responsibility of the public sector. Infrastructural projects in the roads, water and waste sectors are key examples. In Ireland these initiatives are called Public Private Partnerships (PPP). Close
Private Finance Initiative: a means by which public-sector projects are financed and developed by the private sector for an agreed reward.
The Private Finance Initiative is a partnership where the private sector provides and operates an asset in order that the public sector can procure a service (which can only be provided through that asset).
Public Finance Initiative
Private Finance Initiative. is a way of getting private money into repair and improvement works to Council Housing. Being piloted now on a few small areas of Council homes in England, it involves a contractor taking on the risks of providing building and housing management services
Private Finance Initiative. The Private Finance Initiative was launched in the UK in 1992. Since then over 140 projects with a total capital value of some £12 billion have been signed with private sector organisations. In 1997, the focus of the initiative broadened to embrace Public Private Partnerships (PPP), including the major partnering projects for investment in London Underground. The UK Government recently announced that it expects to sign projects involving a further £11 billion of capital investment over the next three years.
Private Finance Initiative. A government led programme to enable the private sector to become involved in the provision of facilities which will then be run by the NHS.
Private Finance Initiative. See College booklet "Advice on the Private Finance Initiative".2
PRIVATE FINANCE INITIATIVE. An initiative aimed at securing private sector money and management expertise in the provision of services (usually involving substantial capital investment) which have traditionally been undertaken by the public sector, where there is significant risk transfer to the private sector.
(Housing) Private Finance Initiative: the award of a long-term contract from a local authority to a PFI private sector operator that will provide additional investment in social housing to meet the Decent Homes Standard.
This stands for Private Finance Initiative and is part of the Public Private Partnerships (PPP) scheme. The objective of PFI is to introduce private funding and management into areas that were previously the domain of the government, e.g. building and operation of roads and hospitals.
Private Finance Initiative under which a public sector (or in the case of Corporate PFI the private sector) passes the risks and responsibilities associated with the ownership or leasing of property to a third party.
Private Finance Initiative. A way of funding large developments in the public sector, where partners in the private sector invest money in the design, build and maintenance of a new facility e.g. hospital or school.
Private Finance Initiative. use of the private sector in the operation of a public service so the public do not own the asset and the authority makes an annual payment to the private company that provides the building and associated services http://www.parliament.uk/commons/lib/research/rp2001/rp01-117.pdf
Private Financing Initiative
The UK Government's Private Finance Initiative - a well established scheme for delivering P3 projects in the UK.
Private Finance Initiatve. This is a government initiative to develop large capital projects which are initially financed by the private sector and then leased back to the public sector. New schools and hospitals are sometimes financed this way.
Private Finance Initiative - it is designed to encourage private-sector involvement and finance in capital projects
Project Finance Initiative. A UK scheme to involve the private sector in the construction, operation and financing of infrastructure and other public services which have traditionally been carried out by the public sector.
Private finance initiative. PFI is a means whereby the private sector can contribute to the provision of what has been regarded, traditionally, as a public service. The promoter designs, builds, finances and operates the facility on behalf of the (public) client.
Private Finance Initiative. An approach to procurement of major public facilities whereby capital is supplied by a private sector partner. PFI is a form of Public Private Partnership. More details of PPP/PFI may be found on web sites of HM Treasury and Office of Government Commerce.