Dormant Bank Accounts To Fund Social Projects
07 April 2012
An announcement today is expected that a new fund to be backed by Britain’s leading banks will be invested in social enterprises. It is reported that the money from the fund will include an initial £400 million from dormant bank accounts and a further £200 million from Barclays, Lloyds, HSBC and RBS.
“Big Society Capital” will be used to encourage charities and social enterprises to prove their business models and then replicate them. Once proven to be a success in one area, they will be able to seek investment for expansion.
The fund will be independent from the Government who will have no influence on the investment decisions.
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Dormant Bank Accounts To Fund Social Projects
07 April 2012
