Greater Manchester will receive a share of a new £33 million investment programme aimed at tackling inequality through boosting the social economy.
Local Access, a partnership between Access – The Foundation for Social Investment, and Big Society Capital, will provide money for six places in total: Bradford; Bristol; Gainsborough; Greater Manchester (Bolton, Oldham, Stockport and Wigan); Hartlepool, Redcar & Cleveland; and Southwark in London.
The Greater Manchester Boroughs of Bolton, Oldham, Stockport and Wigan each formed successful partnerships between local authorities, social enterprises and charities, housing providers and infrastructure organisations etc and joined with GMCVO to bid for the investment. The money will support charities and social enterprises in Bolton, Oldham, Stockport and Wigan grow the local social economy to tackle local issues.
The partnership in Greater Manchester will develop social investment products based on the needs of GM social enterprise blending loans, grants and support. They will now begin a co-design process with Access and Big Society Capital to refine their plans with the aim to launch in the second half of this year.
For more information visit: https://www.gmcvo.org.uk/news/new-investment-gm-help-grow-social-economy-and-tackle-inequality