4 April 2012
City of London backs Big Society Capital launch
Commenting on the launch of Big Society Capital today (4 April),
Lord Mayor of the City of London David Wootton said:
“The City of London is delighted to welcome Big Society Capital
as the new kid on the block – both as a newcomer to the Square Mile
but also as the world’s first institution of its kind.
“The social sector and the City have a long tradition of
partnership even before the time of my predecessor Dick
Whittington, a tradition on which I know we shall continue to
build. This has typically taken the form of philanthropy and
volunteering but today's launch is a vital step towards enabling
structured finance to play a greater role in providing the funding
needed by the third sector. This is particular timely given the
challenging economic environment that community and voluntary
organisations are facing. Finance is the lifeblood of society as a
whole and BSC will play a vital role in channelling investment to
deliver jobs and growth where they are most needed.”
Stuart Fraser, Policy Chairman at the City of London
Corporation, said:
“Big Society Capital – backed by the Project Merlin Banks – will
be a game-changer in terms of social investment, bringing much
needed funds to the community and voluntary sector. Finance is -
and always will be – an integral part of the economy and the City
of London Corporation will work with BSC, Government and third
sector partners in the social investment sphere to help put in
place the networks needed to build a stronger society.”
Notes to editors
- Press enquiries
Sanjay Odedra, Senior
Media Officer, City of London Corporation
Tel 020 7332 1835
Email
sanjay.odedra@cityoflondon.gov.uk
- About the City of London Corporation
The
City of London Corporation is a uniquely diverse organisation. It
supports and promotes the City as the world leader in international
finance and business services and provides local services and
policing for those working in, living in and visiting the Square
Mile. It also provides valued services to London and the nation.
These include the Barbican Centre and the Guildhall School of Music
& Drama; the Guildhall Library and Art Gallery and London
Metropolitan Archive; a range of education provision (including
three City Academies); five Thames bridges (including Tower Bridge
and the Millennium Bridge); the Central Criminal Court at Old
Bailey; over 10,000 acres of open spaces (including Hampstead Heath
and Epping Forest), and three wholesale food markets. It is also
London’s Port Health Authority and runs the Animal Reception Centre
at Heathrow. It works in partnership with neighbouring boroughs on
the regeneration of surrounding areas and the City Bridge Trust,
which it oversees, donates more than £15m to charity
annually.