A consortium led by the Adventure Capital Fund (ACF) has been appointed to deliver Communitybuilders, a £70m government programme which aims to help build more cohesive, engaged and active communities through investment in community-led organisations looking to develop long-term viability.

Organisations will be able to apply for loans and grants and have access to expert support and mentoring services from late summer.

ACF, which supports community enterprises by providing funding and expertise, will be delivering Communitybuilders in partnership with the UK's largest social investor Futurebuilders England and the Community Alliance, made up of Development Trusts Association, bassac and Community Matters, on behalf of Communities and Local Government and the Office of the Third Sector (OTS).

ACF has also secured a commitment from Unity Trust Bank to provide up to £40m match funding for the programme. It is also planning a promotional campaign to reach out to potential investees.

Angela E. Smith, Minister for the Third Sector, said: "The Government's £70m investment in Communitybuilders is an exciting new funding approach that will support third sector organisations in the current economic climate and help them to emerge stronger. These organisations empower local citizens, providing a place to meet, holistic services and a voice for their communities. I look forward to working with the ACF to make a difference to so many local community organisations."

Caroline Forster, Communitybuilders Director at ACF, commented: "We are delighted to be heading the consortium delivering Communitybuilders. The delivery team combines ACF's track record as a leading investor in community anchors with Futurebuilders England's fund management expertise and the Community Alliance's grassroots understanding and support for community organisations."

 

09:20:02  2009-07-15