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New Public Radio Fund Formed
August 10, 2006 at 6:11 AM (PT)
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A new fund for public radio has been formed by the FORD FOUNDATION, PUBLIC RADIO CAPITAL, and the CALVERT SOCIAL INVESTMENT FOUNDATION. The new PUBLIC RADIO FUND, already endowed with $4.5 million in loans from CALVERT and $1.5 million from the FORD FOUNDATION, is looking to raise $15 million over the next 6 to 12 months. Investors can lend money to the fund at 0-3% for three-year notes and 0-4% for five-year notes, and the money will in turn will be loaned to stations.

