Barclays is inviting charities to apply for a share of £10m that it is making available to 100 organisations.
The bank’s 100x100 COVID-19 UK Community Relief Programme, which opened for applications yesterday, will award 100 donations of £100,000 to charities supporting vulnerable communities through the coronavirus pandemic.
The programme represents an initial investment of £10m from Barclays’ £100m Community Aid Package, which was launched in early April.
The 100x100 programme is open to charities with annual incomes of more than £1m, which are working to support vulnerable communities that have been affected by Covid-19 and the associated social and economic hardships created by the crisis.
“Our community aid package has been established to support the many charities and local organisations that are doing great work supporting Covid-19 relief on the ground,” said Jes Staley, chief executive of Barclays, in a statement.
To be eligible, charities must be able to demonstrate a track record of delivering impactful, on-the-ground support that directly meets the needs of vulnerable communities around the UK.
Relevant communities include low-income families, those facing financial hardship, isolated elderly people and key workers, according to the programme guidelines.
Further details about eligibility can be found here.
Funding packages must be used to meet the immediate needs of these communities within six months of funding being awarded, and successful charities must be in a position to begin deployment of the donation within the first month of receipt.
Staley said: “We know that the charity sector has been severely affected by Covid-19. We hope our Community Aid Package will provide relief to some of these organisations at a time of acute stress.”
Applications will be reviewed by an internal Barclays committee and the bank expects to begin distributing funds in June, subject to completion of due diligence and additional internal governance requirements.
UK-registered charities have until 22 May to apply.