Grant-maker to distribute £55m over next 10 years

Inspiring Scotland is to give out grants worth £55m over the next 10 years to a group of third sector organisations working with young people.

The grant-maker, which pools money from a variety of sources, including businesses, public donations and the Scottish Government, is to hand out the money to 24 pre-selected charities.

The cash will be distributed through Inspiring Scotland's 14:19 fund, which seeks to improve the lives of people aged between 14 and 19-years-old who are struggling to adjust to life after school.

The 24 charities receiving the funds will include Action for Children Scotland, the Callander Youth Project Trust and the Prince's Trust Scotland.

Andrew Muirhead, chief executive of Inspiring Scotland, said the investment would help more than 35,000 students continue on to further education, employment or training.

The money would attract up to £67m in additional funding for the selected charities, he said.

"Our aim is to change people's lives for the better through significant long term funding and development support for Scotland's charities," he said. "We are looking forward to producing results for young people who, for a whole variety of reasons, need extra support, and for the investors who have made this possible."

Inspiring Scotland was launched in January by the Lloyds TSB Foundation for Scotland.

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