As part of our celebrations to mark 20 years of Social Investment Cymru, we’re offering a new interest rate discount for organisations that show commitment to the Welsh language.
Our Social Investment Cymru team is celebrating 20 years of social lending. For the last 20 years, Social Investment Cymru has helped voluntary organisations of all shapes and sizes invest in the change they want to see. We’re celebrating the part we’ve played in some truly inspiring stories, and encouraging others in the voluntary sector to explore how repayable finance could support their ambitions.
As part of the anniversary celebrations, we’re really pleased to announce a new initiative in partnership with the Welsh Language Commissioner offering interest rate discounts to organisations that achieve the Cynnig Cymraeg.
SOCIAL INVESTMENT CYMRU AND CYMRAEG
Cymraeg is fundamental to who we are and how we operate at WCVA. The language is a vital component of Wales’ cultural identity and heritage and we want to see Cymraeg thriving in line with the Wellbeing Goals of the Wellbeing of Future Generations Act.
We work closely with the Welsh Language Commissioner to promote the benefits of Cymraeg to the voluntary sector especially in relation to the delivery of services.
For the Social Investment Cymru team, Cymraeg has always been close to their hearts. In a recent survey, 62% of organisations we spoke said it was important to them that Social Investment Cymru is able to offer its services in Welsh. Not only that, within the team, 50% are Welsh speakers and the remainder are Welsh learners.
INTEREST RATE REDUCTIONS AND CYNNIG CYMRAEG
As part of our new initiative we’re offering a 0.5% discount on loan interest rates for organisations that demonstrate a firm commitment to Cymraeg by achieving the Cynnig Cymraeg. The discount applies to the Community Asset Loan Fund, a scheme funded by Welsh Government that offers loan finance for groups looking to bring property into community ownership.
The Cynnig Cymraeg is recognition by the Welsh Language Commissioner and given to organisations that have a strong Welsh language plan in place. It’s an opportunity to transform your engagement with the public by showing how proud you are to offer services in Welsh. The Commissioner’s team can fully support you to develop your plan so that you receive official recognition.
Welsh Language Commissioner, Efa Gruffudd Jones said:
‘I’m delighted that we’ve been able to work with WCVA’s Social Investment Cymru team to encourage and incentivise more of their loan recipients to work towards the Cynnig Cymraeg.
‘This new initiative demonstrates how some of the best and most innovative ideas can be developed when we work in partnership. By doing so, our aim is to ensure that all communities have the opportunity to use their Cymraeg as grassroot services are developed for the benefit of the people of Wales.’
A SHARED VISION FOR THE LANGUAGE
Welsh Government is the funder and key partner for the Community Asset Loan Fund.
Mark Drakeford, Cabinet Secretary for Finance and Welsh Language, said:
‘I’m pleased that organisations using the Community Asset Loan Fund will now be rewarded for their commitment to Cymraeg with a reduction in their interest rate. This is a practical incentive that recognises the value Welsh language provision brings to communities.
‘This is also a direct response to the recommendations made by the Commission for Welsh-speaking Communities, and a sign of our ongoing commitment to seeing Cymraeg thrive across Wales.’
FIND OUT MORE
If you would like to know more about the discount scheme please contact our Social Investment Cymru team. Find out more about the Cynnig Cymraeg via the Welsh Language Commissioner’s website.