Adventure Capital Fund consortium will run Communitybuilders

Fund offers £70m for projects promoting local democracy

A consortium led by the Adventure Capital Fund has been chosen to manage the Government's £70m Communitybuilders fund.

The ACF, which holds the contract to run the £215m Futurebuilders England fund and the Department of Health's £100m Social Enterprise Investment Fund, was selected to run the Communitybuilders fund, which will provide a combination of grants and loans to voluntary organisations for projects that promote involvement in local decision-making.

The ACF will operate the fund in conjunction with Futurebuilders and the Community Alliance, which is a partnership between community network the Development Trusts Association, local umbrella bodies Bassac and Community Matters.

Unity Trust Bank has also agreed to provide up to £40m of match funding for the programme, which is jointly administered by the Office of the Third Sector and the Communities and Local Government department.

Caroline Forster, Communitybuilders director at the ACF, said: "ACF has helped create some brilliant enterprises, firmly rooted in their communities. Communitybuilders means that we have much more substantial funding to do this, which is extremely exciting for us."

The programme, which was criticised by the Conservatives for having not spent any of its budget in the year since it was announced by the Government, will open for applications later in the summer.

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