The nature and identity of the proposed funders will depend upon the anticipated financing solution(s) that might be appropriate for the specific project. Giving due regard to these anticipated financing solutions, the Authority and the PB should seek to agree a long-list of potential funders that might be interested in participating in the PBDFC.
Depending on the number of potential funders on this long-list, it may be appropriate to ensure that the PBDFC process incorporates a short-listing procedure. This should seek to identify approximately 4 to 6 potential funders (or groups of potential funders) where each is expected to bid on the basis of a fully underwritten offer for the total finance requirement (or in the case of a major project an agreed defined portion of the total finance requirement).