Banks willing to commit €25m to new social finance fund

The banks are willing to provide an initial €25 million towards a new government initiative to make available social finance to community and local development projects.

31st December, 2005

The banks are willing to provide an initial €25 million towards a new government initiative to make available social finance to community and local development projects.

The aim of the initiative, referred to briefly by the Minister for Finance, Brian Cowen, on Budget Day last month, is to provide financing for local projects that have difficulty accessing funding.

As part of his budget, Cowen announced the abolition of the €100 million a year bank levy,...

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