§ The Parliamentary Under-Secretary of State for the Home Department (Fiona Mactaggart)
I am announcing the establishment of an advisory group for the futurebuilders fund.
Futurebuilders is a £125 million investment fund to assist voluntary and community organisations and social enterprises in their public service work. It will enable organisations to modernise their operations so that they can increase the scale and scope of their public service delivery.
The fund will provide finance to acquire capital assets, through a range of funding solutions, including grants and various forms of loans. Advice and support will also be available to organisations to help them in accessing the fund.
The fund will be managed by Futurebuilders England, a consortium of organisations with experience of funding voluntary and community organisations.
The advisory group will advise ministers on the continuing objectives, priorities and governance and on the implementation and effectiveness of the fund. The group will have an independent chair, who will be appointed following an open recruitment process. Advertisements will appear in the press shortly.