Equity Bank, the Irish subsidiary of Bank of Scotland, has set up a public private partnership unit to take advantage of opportunities in this emerging business area. Speaking at the launch of the unit, Mr Joe Higgins head of Equity Bank in Northern Ireland, said the bank has already provided funding for the first Education Pathfinder PFI project in Northern Ireland in which its client, Campus Projects (Drumglass) has been granted the rights to construct a new school and operate the building and grounds for 25 years.

Mr Higgins said that difficulties would arise in the move from State to private control in the provision of buildings and other facilities and that we were now at the start of a learning curve. But he said the move would open up new and exciting opportunities in many sectors of the economy. "We have to learn to think of the State as the customer and the recipient of services from the private sector provider.

Pictured with Mr Higgins was Mr Harry Slowey, director, Equity Bank