£1million investment in Charity Bank to benefit Northern Ireland charity sector
Howard Lake | 9 December 2010 | News
The Building Change Trust is investing £1 million in Charity Bank to benefit community and voluntary groups in Northern Ireland. The investment is designed to help ensure that suitable loan finance will be available to charities and community organisations.
Charity Bank, which has operated in Northern Ireland since it was established in 2002, is committed to growing this investment further by raising additional deposits from individuals and organisations in Northern Ireland. Charity Bank will also be delivering a 5-year Investment Readiness Programme to strengthen financial capability in the sector.
Building Change Trust was established in 2008 with a £10 million investment by the Big Lottery Fund. Its Chairperson, Bill Osborne, said: “We recognise that now and into the future the sector will operate in a time of reduced and constrained funding and that innovation and changes in funding and financing arrangements are both inevitable and desirable.”
Frank Hewitt from the Big Lottery Fund said: “This £1 million investment in Charity Bank will help organisations consider loan finance to support positive activity or to continue to build change – it is a major investment for the sector.”
www.charitybank.org
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.