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TUESDAY, NOVEMBER 24, 2009
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Prince Charles' Eco-Fund Whacked by Credit Crunch

Investor abandons prince's fund for urban regeneration

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(Newser) – Prince Charles' dreams of eco-friendly urban regeneration have been shattered by the credit crisis, the Daily Telegraph reports. A major Middle Eastern investor has pulled out of a $1 billion property fund the prince planned to use to replicate the sustainable eco-village Poundbury, which he launched in Dorset. Supporters are scrambling to find new funding, but the prince's vision is expected to be scaled back considerably.  

Prince Charles's Foundation for the Built Environment is seeking alternative funding for urban regeneration plans.
Prince Charles's Foundation for the Built Environment is seeking alternative funding for urban regeneration plans.   (AP Photo / Scott Heppell, Pool)
Prince Charles' plans to revitalize inner-city Britain with environmentally friendly projects may have to be scaled back as investors pull out.
Prince Charles' plans to revitalize inner-city Britain with environmentally friendly projects may have to be scaled back as investors pull out.   (©dansmith-flickr)
Britain's Prince Charles reacts as he tours a temple during a Hindu festival in London last month.
Britain's Prince Charles reacts as he tours a temple during a Hindu festival in London last month.   (AP Photo/Alastair Grant)
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