The Financial Facility For London Transportation Is 500million STG.

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The British capital’s transportation system will receive 500 million pounds ($567 million) from London municipal authorities; to fill in any gaps left by a government support package.

TfL, which operates the city’s red double-decker buses and underground Tube trains among other services, and the British government reached an agreement in August for a 1.16 billion pound ($1.3 billion) contract to last until the end of March 2024.

The taxpayer-funded Greater London Authority will pay for the 500million pound facility; with TfL having the flexibility to use funds up until March 2024.

Since the beginning of the epidemic, the British government has intervened by providing TfL with a number of funding packages.

Reuters.

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