Big Society Bank given go-ahead from Cabinet office minister

Cabinet Office minister Frances Maude endorsed proposals to set up a Big Society Bank on 9 May.1

It will seek financial and social returns, investing in social enterprise funds and other intermediaries through debt and equity. This will enable them to invest in frontline organisations in turn. It will not make grants.

The bank will aim to expand the social investment market, the focus of a Cabinet Office paper published in February.2

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