Finance the Real Barrier to Radical Land Reform in Scotland

Triodos Bank Press Release, 11 March 2003

Triodos Bank, pioneers of finance for community initiatives for over twenty years, has welcomed radical land reform in Scotland. But experts from Europe's leading ethical bank warned that finding the money to take advantage of these changes was the single, greatest barrier to strengthening Scotland's rural communities.

According to Triodos, the opportunities for land ownership could be lost without commercial, non-public funding. "The potential for rural communities to take control of their land and their economic futures is now in place, but the challenges these changes present are immense. The benefits of land reform to rural communities will be meaningless unless rural people can access the right funding," says Triodos Bank's David Cousland.

"Grant funding alone will not be enough. Additional funding will need to be found and it is available. Increasingly, experienced but unconventional financial institutions can provide solid financial backing for community led initiatives that benefit people and their land. Alongside grant funding providers, ethical institutions like the Triodos Bank, and others, are at the forefront of these efforts."

Triodos, which only provides finance for positive social and environmental initiatives, helped finance the Assynt Crofters Trust in Sutherland in a flagship case of land reclamation in the 1990s. With few obvious opportunities to generate income on their land, the local community found the money to build, and now operate, a viable hydro-electric project.

Triodos also helped finance Laggan Community Trading. This innovative community enterprise runs the local shop and provides increased rural housing to local people. "These are just some of the examples of the way local people have delivered a more positive future built around the strengths of the community," says David Cousland. "But without sources of income to support funding from organisations that understand the very real challenges that these communities face, land reform could fail to deliver its substantial promise."

Further Information and Contacts

Triodos Bank one of the leading social and environmental savings and investment banks in the UK. Triodos only finances enterprises creating social, environmental or cultural added value. Key sectors include community-based enterprise, organic food and farming, renewable energy, social housing and fairtrade products.

Transparency is a core value: customers are informed about the bank's lending and can target their savings to particular areas of investment. A range of personal savings accounts is offered and full banking services are available for businesses and charities. Triodos Bank is an independent bank in Netherlands in 1980. Its principles and independence are protected through a special shareholding trust. The UK office opened in 1995 and is based in Bristol.

To contact Triodos Bank call James Niven on 0117 980 9721 or e-mail: james.niven@triodos.co.uk

Visit: www.triodos.co.uk