Salary Survey 2018
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Good Business, Politics, Social Enterprise

Federal Funds to Pilot Community Development Financial Institution Sector


Thursday, 28th January 2010 at 2:35 pm
Lina Caneva, Editor
Federal Government announces funding to pilot approaches for the development of Community Development Financial Institution Sector


Thursday, 28th January 2010
at 2:35 pm
Lina Caneva, Editor


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Federal Funds to Pilot Community Development Financial Institution Sector
Thursday, 28th January 2010 at 2:35 pm

The Federal Government will provide $7.5 million to pilot approaches for developing a Community Development Financial Institution sector in Australia. The announcement was made at the Government’s Social Inclusion Conference in Melbourne.

The Federal Minister for Families, Housing, Community Services and Indigenous Affairs, Jenny Macklin told the Conference the scheme aims to get philanthropic, business and government support to cover the cost of lending, allowing low interest loans to be extended into the community

 

She says the community development financial institution (CDFI) sector is very small in Australia, especially in comparison to the UK and the US, and this needs to change.

Macklin says last year’s global economic downturn made the government look at new approaches to helping the financially vulnerable.  She says financial inclusion is an essential part of social inclusion and individuals need to build their confidence and skills to manage their money and empower people to build their own financial security.

Macklin says that during the economic downturn, the Government provided 30 million for no and low interest loans, which were put into disadvantaged communities around the country.

Opening the first Social Inclusion Conference, Macklin said the Federal Government had a strong commitment to social inclusion – describing it as the mainstay of the reforms the Labor Government has brought about over the last 2 years.

Macklin says that ensuring Australians have a fair chance of reaching their potential is a significant moral imperative for the Government.

She says taking on these issues demands a coordinated and concerted effort – not just from Government, but business and NFPs, working in partnership and 2010 will be a year to build the social infrastructure that is needed for social inclusion.

 
The 2-day Social Inclusion Conference is being hosted by the Federal Government. Its aim to is to exchange ideas, discuss topics and learn from participants on how to build a more socially inclusive Australia.

 


Lina Caneva  |  Editor  |  @ProBonoNews

Lina Caneva has been a journalist for more than 35 years, and Editor of Pro Bono Australia News since it was founded in 2000.


Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

The Australian Social Inclusion Board Five Years On…

Staff Reporter

Tuesday, 11th June 2013 at 9:18 am

Building Blocks of Social Inclusion

Staff Reporter

Thursday, 6th December 2012 at 10:41 am

New Appointments to Social Inclusion Board

Staff Reporter

Tuesday, 20th November 2012 at 2:05 pm

Chair of Social Inclusion Board Retires

Staff Reporter

Thursday, 17th May 2012 at 11:53 am

POPULAR

Housing the Other 94% of NDIS Recipients

Luke Michael

Monday, 23rd April 2018 at 1:02 pm

NDIS Urged to Implement Portable Training System for Workers

Luke Michael

Tuesday, 17th April 2018 at 8:31 am

Disability Advocates Slam Plans to Outsource NDIA Services

Luke Michael

Tuesday, 24th April 2018 at 5:52 pm

Communication is Key for Shared Value

Wendy Williams

Wednesday, 18th April 2018 at 4:45 pm

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


Salary Survey 2018
pba inverse logo
Subscribe Twitter Facebook

The social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!