Purpose

Cabinet has created a Camden Community Wealth Fund (CWF)
– a mission-driven, social investment fund that will provide
investment for people, businesses and organisations in Camden that
are delivering on our missions, to develop their ideas, grow their
businesses, and maximise their impact.
 
The Fund will formally launch next year and will support
people and organisations that are focused on tackling the We Make
Camden Missions and in particular the Young People and the
Diversity Missions. In its first phase, it will do this by
providing repayable long-term loans to help people that want to
make a positive impact on the Borough start or grow a business in
Camden. It will also provide other support including wrap-around
business support. Applications from businesses to source investment
will go live in the spring of next year.
 
This report recommends the establishment of 2 CWF Pilot
Schemes for the first phase of the Fund. The Pilot Schemes will
test 2 distinct Participation Approaches designed to empower our
residents to feed into Investment decisions in a meaningful way and
create a sense of “Community Ownership” of the
Fund.

Content

THAT the Executive Director of Corporate Services
 

1.            
approve the launch of the 2 CWF Pilot Schemes set out in section 2
of this report to test 2 participation approaches designed to
empower our residents to feed into CWF investment decisions.

2.            
allocate a budget of £5,000,000 (five million pounds) for the
2 CWF Pilot Schemes.