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The UK's housing crisis is so bad that the government has come up with a novel way to fix it: It's putting $1 billion toward building 100,000 new homes over the next five years, reports the Telegraph.
The money will come from private investors, including the Man Group hedge fund, and will be divvied up among various government agencies.
"We are dedicated to creating the right environment for impact investment across the country, and the announcement of over half a billion pounds worth of impact investment building tens of thousands of new homes is a great example of the change that we are delivering on," says Prime Minister David Cameron.
The announcement comes as the government looks to unlock investment to deliver on its aims to build 1.5 million new homes over the next five years.
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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Social Entrepreneurship
Spotlight
Social Enterprise Piles Textbooks for Change
Textbooks for Change, a London-based social enterprise that has obtained the B Corporation seal for positive social and environmental impact, is seeking investors that would be helping the company expand.
