Agenda item

Report of the Chief Grants Officer

The Board received a report on the investment criteria which were approved by the Court of Common Council at its meeting on 25 October 2012, and which were supplemented at the first meeting of the Social Investment Board on 14 December 2012.

Officers reported that the two main objectives of the Board were to provide loan finance, quasi-equity and equity that provided development and risk capital to organisations working towards charitable ends or with social purpose; and to help develop the social investment market.

In response to a query from Members it was reported that Officers would continue to present the criteria to Social Investment Board meetings as a standing item and would propose amendments or updates where appropriate. The criteria were available online so that prospective investees had a better understanding of what the Fund would and would not invest in.

RECEIVED.