Firmer foundations for disadvantaged after bank deal
A national bank has agreed funding to maintain and support charities for the next four years.
The outcome of negotiations between Lloyds TSB Foundations for England and Wales, Northern Ireland and the Channel Islands and Lloyds Banking Group will lead to an increase in funding between 2010 to 2013.
Against the backdrop of a particularly challenging economic environment, the commitment will also enable the three foundations and the group to maintain and expand funding and support for charities that help disadvantaged people play a fuller role in communities.
Each foundation receives a share of the group’s pre-tax profits, averaged over a three-year period.
Recent beneficiaries of the scheme include a disabilities charity in Cumbria, which was awarded a £25,000 grant, and Llanelli Women’s Aid in Wales, which received a £30,000 boost.
Lord Leitch, Lloyds Banking Group deputy chair, said long-term funding of programmes that tackled disadvantage was ‘the right and appropriate focus’ for all involved.
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