Abundance helps local authorities and other public sector organisations to finance infrastructure projects through citizen and stakeholder investment. Abundance has been exploring new ways to achieve this through crowdfunding. To this end, it has now launched a fund to help local authorities set up pilot Community Municipal Bonds.
The Bonds are used to raise finance for green and low carbon infrastructure projects. They are designed to provide an efficient, scalable and cost-effective alternative to conventional funding sources. The Bonds are also intended to bring the benefits of real engagement from citizens and more sustainable and thriving local economies.
Six grants of up to £25,000 are available to support local authorities who want to fund local public infrastructure through this new approach. The funds are provided via Horizon 2020, a European funding programme for research and innovation.