Public Works Loan Board


The Public Works Loan Board is a statutory body of the UK Government that provides loans to public bodies from the National Loans Fund. Until 2020, when they were abolished, the members of the PWLB were known as the Public Works Loan Commissioners.

History

The PWLB was established on an ad hoc basis in 1793, and was originally known as the Exchequer Loan Commissioners. The PWLB was put on a statutory basis by the Public Works Loans Act 1875.
Since July 2002 it has been managed as part of the UK Debt Management Office, one of HM Treasury's executive agencies. Prior to 25 February 2020 PWLB loans were provided by the Public Works Loan Commissioners.  Following a government consultation in 2016 the Public Bodies Order 2020 abolished the Commissioners and transferred their statutory powers to HM Treasury.

Operations

The PWLB provides loans to local authorities of all types in Great Britain, primarily for capital projects.

Eligible bodies