# LIBOR fines to benefit military charities & Jo Cox-backed cause

- Link: https://fundraising.co.uk/2016/07/15/libor-fines-benefit-military-charities-jo-cox-backed-cause/
- Published: 2016-07-15T09:00:51+01:00
- Author: Melanie May

**The government has announced that LIBOR fines are to be donated to charity, including
a cause backed by the Jo Cox memorial fund.**

Nine charities will receive a share of more than £14m, raised from fines levied 
on the banking industry for manipulating the LIBOR rate.

The funding includes:

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 * £375,000 for the Royal Voluntary Service – one of the causes backed by the Jo
   Cox memorial fund
 * £1.9 million for new buildings for pre-school age children of SAS personnel
 * £2.2 million for new recovery and well-being facilities for current and veteran
   SBS personnel
 * £550,000 to secure flights to the Falklands for veterans over the next three 
   years, including the 35th anniversary of the conflict in 2017
 * more than £2 million to excavate HMS Invincible shipwreck in the Solent. The 
   project will also train veterans, serving personnel and disadvantaged teenagers
 * £100,000 for an expedition for wounded veterans to climb Antarctica’s highest
   mountain
 * £5 million for the Aged Veterans Fund which looks after health, wellbeing and
   social care needs for veterans born before 1 January 1950
 * £2.25 million to support D-Day veteran visits to Normandy, including the 75th
   anniversary in 2018

The [Aged Veterans Fund](https://www.gov.uk/government/collections/aged-veterans-fund)‘
s (AVF) £5 million will go towards projects that support the health and social care
needs for older veterans over the age of 66, including surviving World War 2 soldiers.
The next round of grants from the AVF will be made in September 2016.

General Sir Andrew Ridgeway, chairman of [Cobseo](https://www.cobseo.org.uk/), the
Confederation of Service Charities said:

> “The additional funding announced by the Chancellor for the Aged Veterans Fund
> will make a significant difference to the outstanding work undertaken to support
> the additional health, wellbeing and social care needs of this group of people
> who have served this country with such distinction. This will permit an increased
> number of veterans to access these important services.”

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