2 The Private Finance Initiative is already making a significant contribution to improving the quality of the school estate. In England, schools account by value for one-third of the total local government PFI commitment and are the single biggest component. It is now the main source of funding from the Department for Education and Skills (DfES) for new or replacement schools. Over 500 primary and secondary schools are already part of PFI deals that are signed or are currently in procurement (covering the period 1997/98 to 2003/04).III These schools are covered by 67 PFI schemes that range from provision of single small new primary schools to refurbishment of a whole school estate, with PFI credits ranging from £3 million to over £90 million per scheme.IV Recently another 11 schemes have been agreed up to 2005/06, bringing the total committed up to £2.4 billion.V In Wales six school PFI schemes are signed or in procurement, plus two already built, involving a total of 13 schools.
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III In addition there are some 200 schools in three LEAs that are involved in more specific PFI schemes - for example, covering just the provision of IT or catering services, rather than involving new build or substantial refurbishment.
IV Source: DfES.
V Source: House of Commons Written Answer, 15 October 2002, 'PFI Projects'