Big Society Capital outlines first investments

Big Society Capital (BSC) - the social investment bank launched early this year - has announced details of its first investment commitments, of £37m to 12 organisations out of 130 which applied. Its overall budget will reach £600m.

Reporter Andrew Bomford has visited one project which is getting money from the bank.

Nick O'Donohue, the chief executive of Big Society Capital, told The World At One's Martha Kearney that the bank "is clearly going to be substantially cheaper than commercial forms of finance" adding that lenders are seeking to balance financial security with making a social impact.