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Welsh Assembly invest £3m in community recycling and reuse fundJune 2, 2008
The Fund aims to provide strategic support for Welsh community re-use and recycling enterprises that need help to grow their business operations. It will be independently administered by the Charity Bank in Wales. The Charity Bank is the only regulated bank in the UK that is a registered charity and uses depositor's saving purely to support charities and social profit organisations that address social needs. £2 million of the Fund will be allocated as very competitive business loans. A further £1 million will be used to provide grants for business development. Jane Davidson said: "It is important to stress that this fund is intended to build capacity in Social Enterprises for the future. I want to see a strong and thriving Social Enterprise sector that can stand on its own two feet. I hope and expect to see Social Enterprises winning contracts across Wales." Mal Williams, CEO of Cylch (Wales Community Recycling Network) welcomed the announcement of the Fund, and said: "This is a massive and timely boost for our recycling and re-use efforts in Wales. "Community recycling is essentially about people, getting everybody involved and getting the benefit back to the community as a whole. "The benefits for households on low incomes or in emergency need of furniture are plain to see if you visit any of our members. This Fund will help our aim to make Wales a Zero Waste society enormously." |
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Jane Davidson AM, Minister for the Environment, Sustainability and Housing, last week announced the Assembly's investment of £3 million over the next three
years into the new "Cylch Capacity Building Investment Fund" for Wales.
