THIS newspaper has never been slow to criticise local councils when they get things wrong.

But we are also quick to praise them when they get things right.

And Newport city council has got it right with its plan to borrow £90m and loan it to developers to get the Friars Walk shopping centre built.

It is an innovative proposal that is a first for this kind of development in the UK.

The money the council will borrow and loan to Queensberry Real Estate will be repaid to the council at a commercial rate of interest once Friars Walk is complete.

There is, of course, an element of risk in such an undertaking, but the greater risk in our view would be to continue waiting for private finance to materialise.

This funding package, which needs the approval of the full council next week, means construction work will start in March next year with the shopping centre opening in November 2015.

Such a timescale gives anchor store Debenhams the Christmas 2015 shopping window it desires.

A delay beyond that festive period would risk the department store giant considering its position and place the entire scheme in jeopardy.

That is not a risk worth taking.

The council is proposing a brave and innovative way to get Friars Walk built and open within the next two years.

It is good news for the city and we hope councillors take the same view when they vote next week.