By Marcus Leach
The first investment to help disadvantaged young people into work and education has seen David Cameron's 'Big Society' bank become a reality.
The bank, to be known as the Big Society Capital is set to receive £600 million in equity capital in the coming months. This will comprise of £400 million from dormant bank accounts and a further £200 million from the four leading UK high street banks.
The money will be distributed to charities, social enterprises and voluntary groups by socially-orientated financial organisations.
"There are few moments like this when something happens that can really change the world," Cabinet Office Minister Francis Maude said.
"We've all heard about a small charity or social enterprise sweeping away entrenched local social problems.
"But we have not seen a significant commitment to help social innovations grow and be implemented on the national stage until now."
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