The UK Prime Minister has outlined plans for a new Big Society Bank, and announced the country’s first big society communities.

The Big Society Bank will ensure that all the money from dormant bank accounts made available to England is put to good use for the benefit of society.  By expanding the social investment market place and helping to attract extra private sector investment it is expected that over time the Bank will generate hundreds of millions of pounds for charities, social enterprises and voluntary groups to fund social projects across the country, creating opportunities for social action and community involvement.

As a wholesale organisation, the Bank will invest in financial intermediaries in the social investment market, who in turn will increase access to finance for frontline, social organisations.

For more information, visit:

http://www.cabinetoffice.gov.uk/newsroom/news_releases/2010/100719-bigsociety.aspx