TITLE: The UK Public Works Loans Board: central government loans for local government investment
AUTHOR: Franceys R.
ABSTRACT: The UK’s Public Works Loans Board was a mechanism through which local government could access low-cost loans through central government. It played a key role in water and sanitation improvements in the UK between the 1870s and the 1980s. Until very recently, it remained a major vehicle for central-to-local government lending in the UK, and it has been a valuable template for many similar systems worldwide. This Finance Brief outlines the history of this body, still very relevant as a model today.