The UK government has pledged its continuous support for the Thomas Heatherwick-designed Garden Bridge, but has reduced its financial guarantee from £15 million to £9 million.
Transport secretary Chris Grayling has extended the offer to underwrite funding for the £185 million project proposed across London's River Thames. The new offer is valid for an unlimited time period, but is for £6 million less.
The original £15 million government guarantee had been due to expire next month. The Garden Bridge Trust ? the non-profit organisation behind the project ? had only asked for a year's extension.
The new £9 million figure reflects the believed amount required to cover cancellation liabilities.
The government's new financial guarantee is for £9 million, less than the previous £15 million Speaking on Grayling's behalf, transport minister Lord Ahmad said: "The government wishes the exciting and innovative Garden Bridge project every success and has provided public funding to help get it off the ground."
"We have extended our agreement to underwrite cancellation costs but capped at the current level of £9 million," he added.
"The taxpayer must not be exposed to any further risk and it is now for the trust to find private sector backers to invest in the delivery of this iconic project."

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