2.1 In most cases PPP projects involve significant and long-term financial commitments. As a result PPP projects which are funded directly by central government - whether delivered centrally or locally - will require HM Treasury approval1.
2.2 The existing Project Review Group (PRG) will scrutinise PPP projects. It will retain its focus on testing affordability, value for money, deliverability and readiness to engage the market. HM Treasury will look to integrate the PRG more closely into its other scrutiny and approval processes.
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1 Managing Public Money, HM Treasury. Page 13. Box 2.3.