New round of LIBOR funding opens for applications
Howard Lake | 26 June 2017 | News
HM Treasury is now accepting applications for the latest round of LIBOR funding. Projects that support the Armed Forces and Emergency Services communities can now apply.
The LIBOR Fund was announced in 2012, following banking scandals related to the rigging of the benchmark rate that some of the world’s leading banks charge each other for short-term loans.
A HM Treasury statement announced that “the proceeds from LIBOR fines would be used to support Armed Forces and Emergency Services charities and other related good causes that represent those that demonstrate the very best of values.”
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2017 funding round
The latest funding will support projects that benefit people from one or more of the following categories:
- Serving members of the Armed Forces
- Family members of those serving in the Armed Forces
- Veterans of the Armed Forces
- Serving Emergency Services personnel
- Family members of Emergency Services personnel
- Former and retired Emergency Services personnel
‘Emergency Services personnel’ are defined as “Police Officers, Fire Fighters, Paramedics, and other professionals called to scenes of crisis or crime.”
Eligible projects
Applications are accepted from:
- a registered charity
- a Community Interest Company or
- an Armed Forces unit with a Unit Identification Number (UIN)
Cadet Units are also eligible to apply but they should apply through their parent organisation.
Funding can be used for capital projects, including building projects. However, applicant organisations will need to secure match funding for at least 50% for the project.
Projects can be funded for up to three years, providing it will end by March 2021.
Only online applications will be accepted, and applications must be submitted by 25 August 2017. Final decisions on the successful project will be made in November 2017.
There is guidance on applying, a sample application form and the application process.
- 10 veterans’ charities share £22.7m of LIBOR funding (15 April 2017)
- Digest of 2014 Budget announcements affecting fundraising, including LIBOR (21 March 2014)
- Royal Navy and Royal Marines charity awarded £1m in LIBOR funding (25 November 2016)
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.