February 8th, 2007: CORI Justice welcomes the new Social Finance Foundation

As the organisation which originally proposed that social finance be included in national social partnership agreements, CORI Justice welcomes the establishment of the Social Finance Foundation announced by Government.

CORI Justice believes that the development of social finance is very important. Organisations providing social finance, such as Clann Credo, have received substantial support from a wide range of religious congregations since its establishment more than ten years ago. This support will continue and increase.

The provision of social finance has made a valuable contribution to local communities by providing seed capital for small locally-based enterprises.

Proposals for supporting the development of social finance in Ireland were made by CORI Justice in partnership talks in 2002 and were included in the last national agreement Sustaining Progress. Further proposals were made by CORI Justice during last year's negotiations of a new agreement and were included in Towards 2016.

CORI Justice welcomes the Government's commitment that it will work to ensure there is sufficient finance to sustain the long-term viability of this approach as outlined in the social partnership agreement Towards 2016.

CORI Justice also welcomes the fact that there will be a process put in place to monitor the implementation of this social finance initiative to ensure the commitments contained in Towards 2016 are honoured.

CORI Justice is a Social Partner and is one of the organisations that negotiated and signed the last four national agreements: Partnership 2000, the Programme for Prosperity and Fairness, Sustaining Progress and Towards 2016.

Details of the new Social Finance Foundation can be accessed at: http://www.finance.gov.ie/viewdoc.asp?DocID=4540