Investors may back social-finance schemes

Private investors could supplement funding from banks for a government social-finance initiative announced in last month's budget.

7th January, 2006

Private investors could supplement funding from banks for a government social-finance initiative announced in last month's budget.

Legislation governing the new scheme, under which Irish banks will contribute €25 million a year to fund social and community-based projects, is expected to include provisions allowing parties other than banks to contribute.

These could include tax incentives to encourage investors to contribute. Other countries, such as Britain and the Netherlands, have introduced similar incentives.

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