To overcome its limited borrowing powers and limited capital funds, the Welsh Government launched the Mutual Investment Model (MIM) in 2017 to use private capital to fund, build and maintain public projects. In return, the Welsh Government pays a fee to the private partner, which will cover the cost of construction, maintenance and financing the project.
Fast-forward a few years, a number of MIM schemes are already underway – including the redevelopment of the Velindre Cancer Centre in Cardiff, the improvement of the Heads of the Valleys road, and additional investment in Band B of the 21st Century Schools Programme.
Our lawyers gave ministerial advice throughout the development of the MIM itself, and since then, have acted for several public sector clients who used the model for to fund their infrastructure projects. So, whether you’re just curious as to how it works, or would like more in-depth, bespoke training, we’ve got you.