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The Local Government Borrowing Initiative (LGBI) was launched in 2012–13 to fund new and necessary investment in highways. 2014-15 is the third and final year of investment under the scheme, and by the end of the financial year around £170m will have been invested across Wales.
Research into the LGBI, carried out by the WLGA, has found that the scheme has so far delivered:
• Resurfacing of 850km of carriageway
• Resurfacing of an additional 180km of footways
• Refurbishment and/or strengthening of 74 bridges/highway structures
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• Replacement of 5,000 aged/deteriorated street lighting columns
• Upgrade of 1,800 lighting units to more energy efficient modern units
During a visit to Rhondda Cynon Taf the Minister saw how the Local Authority has invested its allocation in road improvements.
Jane Hutt said: "When we introduced the LGBI, we wanted to help Councils like Rhondda Cynon Taf address revenue pressures, and see them undertake new and necessary investment in our highways. I am delighted to see that that is exactly what is happening.
"Thanks to close collaboration between the Welsh Government and local authorities we have seen a significant increase in the ability of local authorities to fund improvements in transport infrastructure. The LGBI has not only helped to improve the condition of our roads, reduce travel times and increase safety for motorists and cyclists; it has also supported local economies across Wales by helping to sustain and create jobs for local people."
Following the success of the LGBI for highway improvements the Minister has also agreed to extend the scheme to the 21st Century Schools programme. This will inject around £170m of investment into the first phase of the 21st Century Schools programme between 2014-15 and 2016-17, enabling it to be delivered in 2018-19, two years sooner than originally planned.
(CD/MH)
