The funding will allow the London Boroughs of Croydon and Lewisham to secure private sector partners in a joint project to upgrade 44,000 streetlights over the next 25 years.
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Rosie Winterton said: "Experience shows that better streetlighting helps improve road safety, as well as reducing crime and the fear of crime. It is also helps create happier and healthier local communities by promoting social inclusion and more sustainable patterns of transport by encouraging people to cycle and walk.
"I am very pleased that Croydon and Lewisham are using PFI arrangements to deliver real benefits to motorists, pedestrians and all road users alike."
The next stage in the process is for the Councils to discuss with potential partners how the work will be undertaken. When this is complete, work could start in 2009 in each area.
(GK/JM)
