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Big Society Bank

Cabinet Office written question – answered on 8th June 2011.

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Photo of Chris Leslie Chris Leslie Shadow Minister (Treasury)

To ask the Minister for the Cabinet Office what estimate his Department has made of the financial return on investment that banks lending on commercial terms through the big society bank will receive.

Photo of Nick Hurd Nick Hurd The Parliamentary Secretary, Cabinet Office, The Parliamentary Secretary, Cabinet Office

Four UK banks have agreed to invest £200 million into the big society bank subject to its business plan and on a commercial basis.

Now that the outline proposal for the BSB has been agreed by Government, negotiations are under way on the terms of the investment. The banks are committed to investing in a way that is compatible with the big society bank's mission is to help grow a sustainable social investment market and achieve returns against a double bottom line of social and financial impact. The exact terms of this investment have yet to be finalised.

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