Allia passes £250m milestone of bonds to support charities and deliver social impact
More than a quarter of a billion pounds has been raised by independent not-for-profit Allia to help tackle global and local issues such as unemployment, social exclusion and affordable housing – with half that sum (£125 million) being issued in 2017 alone.
Since its formation in 1999, Allia’s work on social finance has resulted in over £250m of bonds being issued to support a range of organisations, from housing associations and care providers to community employment ventures and other charities.
This landmark in social finance includes:
- Seven Retail Charity Bonds, which have raised more than £157m of the overall total. Some £99.5m of this was raised in 2017 alone through four bond issues. Allia designed Retail Charity Bonds to make it easier and more affordable for charitable organisations to raise unsecured fixed-rate finance through bonds listed on London Stock Exchange.
- Nearly £70m of investment from Scottish Government in Allia bonds, which has provided loans to nine housing associations across Scotland. The programme provides unsecured loans for the development of new affordable housing.
- Fifteen charitable bonds and mini bonds, which have raised over £24m from communities and businesses to generate grants for local charitable projects, such as helping people into work, funding enterprises and community regeneration projects and to invest in local affordable housing.
Allia is an independent not for profit dedicated to amplifying the impact of organisations and individuals that are committed to solving the most pressing global and local challenges – through inspiring workspaces, effective support and innovative social finance.
Tim Jones, chief executive of Allia, said: “We’re very proud of passing this £250m bond milestone, and all that this finance has helped to achieve. Our bonds have helped provide homes and care for people in need, helped thousands of people into work or out of debt and established enterprises driven by more than profit. Global issues like hunger, joblessness, poverty, climate change and food waste need effective solutions and new thinking. Those who are committed to addressing these challenges need all the support they can get – Allia’s task is to help them amplify their impact.”
The nine housing associations to have benefitted from the Scottish Government bonds include Eildon Housing Association (£15m), Kingdom Housing Association (£10.2m), Castle Rock Edinvar (£10.1m), Elderpark Housing Association (£5m), Dumfries and Galloway Housing Partnership (£5m), Orkney Housing Association (£2.1m), Lochaber Housing Association (£2m), Ayrshire Housing (£1.6m) and Hjaltland Housing Association (£1.3m).