9.21 A small number of pilot projects will be chosen, one of these being a pilot of how Credit Guarantee Finance could be used with banks as the credit provider, a second with an insurance company as the credit provider, and the Government will also wish to test the scheme on two different types of PFI projects. In pursuing the pilots, the Government will be concerned to ensure that these will not delay the financial close of any PFI project and all relevant concerns which could arise for the public and private sectors as a result of Credit Guarantee Finance are addressed in consultation with all relevant parties.
9.22 Following a successful conclusion to these pilots and consultation with both private and public sectors on whether and how this approach could be implemented more widely, the Government will decide whether or not to proceed and will issue guidelines for its use. However, the Government envisages that it will not use Credit Guarantee Finance for more than a limited proportion of its PFI programme and is committed to maintaining a mixed economy in PFI financing.
9.23 As part of the consultation exercise, HM Treasury will be providing further detailed technical information concerning Credit Guarantee Finance on its website in the early Autumn.