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24/02/2016
Over £7m From Dormant Bank Accounts To Fund Community Projects
Community groups in Northern Ireland are to benefit from £7.1 million from dormant bank and building society accounts to finance local projects.
Finance Minister Mervyn Storey made the announcement and said the Community Finance Fund will "improve access to finance for a range of organisations across the third sector".
The Northern Ireland Community Finance Fund is part of the UK wide Dormant Accounts Scheme.
Minister Storey said: "The third sector plays a vital role in Northern Ireland but its development and growth has been constrained by a lack of affordable finance. This Fund will enable such organisations to make further investment in their activities, grow their organisations and become self sustaining through the availability of finance. Access to this financial support will help to increase their revenue and resources and enhance the level of social benefits they deliver."
From 31 March £7.1m has been made available and future funding may vary.
(CD)
Finance Minister Mervyn Storey made the announcement and said the Community Finance Fund will "improve access to finance for a range of organisations across the third sector".
The Northern Ireland Community Finance Fund is part of the UK wide Dormant Accounts Scheme.
Minister Storey said: "The third sector plays a vital role in Northern Ireland but its development and growth has been constrained by a lack of affordable finance. This Fund will enable such organisations to make further investment in their activities, grow their organisations and become self sustaining through the availability of finance. Access to this financial support will help to increase their revenue and resources and enhance the level of social benefits they deliver."
From 31 March £7.1m has been made available and future funding may vary.
(CD)
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Northern Ireland WeatherThis Evening and Tonight:A fine end to the day with some evening sunshine. It remains mainly dry overnight with a touch of frost or fog patches possible in places. However, cloud is expected to increase towards dawn with the odd light shower. Minimum temperature 2 °C.
