The UK Government has announced £150 million of funding is to be made available from dormant bank and building society accounts to help charities, social enterprises and vulnerable individuals impacted by the coronavirus pandemic. The release of £71 million from the government’s dormant assets scheme will be accelerated alongside £79 million already recouped that will be made available to help charities’ coronavirus response and recovery. The funding will support urgent work to tackle youth unemployment, expand access to emergency loans for civil society organisations and help improve the availability of fair, affordable credit to people in vulnerable circumstances. The Government is also looking into expanding the dormant assets scheme to include a range of financial assets from the insurance and pensions, investment and wealth management, and securities sectors. Click here
Independent Age provides advice and support for older age people. In recognition of the fact that our older generation will be one of the groups most affected by the COVID-19 pandemic, the trustees have released £2 million of funds to help smaller organisations across the UK working with older people hardest hit by the virus. Independent Age will run four rounds of funding, in each of which £500,000 will be made available for grants of up to £15,000 per application. Applications for the first round of funding opened yesterday, 18 May, with a closing date of 9am, 4 June, with two key priorities:
- Older people living in particularly complex and challenging situations; and
- Older people in danger of being out of sight and out of mind.
Decisions on applications will be made by 19 June. Dates for the three subsequent rounds can be found here; and further information on eligibility and how to apply are here.