The community fund is the first of its kind for Airbnb - although it fosters local community development, this is the first time that it will back that up with funding. From what I understand, the company will be looking to see how it works before deciding how and whether to expand it to other regions. It looks like Airbnb has yet to fund any projects. It is accepting letters of interest now for a shortlist who will make longer proposals in November. The first grants will then come in 2018. “The question is, how do you support emerging tourism,” Chris Lehane, Airbnb Global Head of Public Policy and Public Affairs, said earlier today in a call with journalists about the fund. “We have had a lot of success doing one-off projects in Europe and we want to put this in place and take it to the next level.” Alongside that, Airbnb is announcing some milestones in how it’s contributing to the economy: specifically it’s projecting that it will contribute some €340 billion in economic output across communities in Europe by 2020 (including not just the accommodation, but the additional spending visitors will do once they are staying in an Airbnb somewhere). Get the full story at TechCrunch