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Peer to peer investment in social infrastructure, an alternative funding stream for local authorities.
Published 2 years, 2 months ago
Description
.Abundance is a regulated crowdfunding platform that has developed the Community Municipal Investment (CMI). A CMI is an innoative and powerful new model for councils to raise money from residents and the general public as an alternative to the Public Works Loan Board.
CMIs not only provide a competitive source of funding for capital and investment programmes, but also a route for strengthening the relationships between councils and the communities they serve. The model was launched in 2020 and is now being used by 9 councils including Telford & Wrekin, West Berkshire and Westminster City Council. It has been used to finance the delivery of environment and climate projects in the council's capital programme.