private finance initiative
noun/ˌpraɪvət ˈfaɪnæns ɪnɪʃətɪv/
/ˌpraɪvət ˈfaɪnæns ɪnɪʃətɪv/
(abbreviation PFI)
(British English)- a financial arrangement in which a private company pays for a new large public project, such as a hospital, and the government pays the company in exchange for using it
- The city council made payments to the contractor who was part of the private finance initiative for the new bypass.
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private finance initiative