Scottish fund to improve efficiency launched

The Scottish Government has launched a £30m Scottish Investment Fund to help third sector organisations improve how efficiently they work.

The fund will allocate £10m a year over three years. It will support established third sector organisations that have the potential to either grow their turnover or become financially sustainable, and have the management, finance and government structures to handle investment.

It will largely provide loan finance, and will be managed by Social Investment Scotland. Decisions on funding will be taken by the Scottish Government, SIS and representatives from the banking and finance industry. Organisations with beneficiaries outside Scotland will not be eligible.

John Swinney, Cabinet Secretary for Finance and Sustainable Growth in the Scottish Government, said he would like to see the fund target organisations involved in improving employability, the environment and health equality.

Funding for organisations at an earlier stage of development will be available through a £12m Third Sector Enterprise Fund, which is expected to offer grants of up to £100,000 to organisations that want to build their capacity to operate in an enterprising way. More details of this fund are expected be revealed in the near future.

The Scottish Government has also promised strategic support in areas such as managing relations with the Government, procurement and service commissioning.

David Ainsworth recommends

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