DfT Rail is in continuing discussions with bidders over funding for both the Intercity Express Programme and the new Thameslink EMU fleet. Both schemes, costing in excess of £2bn each, are coming to market at a time when banks are limiting lending for major schemes to around £100m, reflecting reduced liquidity and the desire to spread risk.rnIn response, DfT Rail is proposing that the funding should be 'sliced'. Most recently it has suggested that the Thameslink requirement, which has attracted £500m from the European Investment Bank, could be split into two packages - the two depots plus the first 400 vehicles, followed by the remaining 800 cars.
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