Congratulations to Allia, long ago an initiative of the Relationships Foundation, who have just announced that the Scottish Government will invest £10m in one of their charitable bonds!
Allia started in 1999 under the name Citylife, to raise money for employment initiatives through local campaigns in communities around the UK. They developed a charitable bond mechanism that allowed investors to make a low-risk ethical investment in social housing and donate the yield upfront in support of various charitable projects.
The Scottish Government announced today that it will make innovative use of financial transactions funding by investing £10 million in a Charitable Bond with Allia. The investment will generate over £1 million grant funding for community-led regeneration projects in Scotland delivering a wide range of employability and preventative action outcomes for the benefit of local people and communities.
For the press release, click here.