- This story has been corrected since publication (see final paragraph below)
A £2m endowment fund to support voluntary sector projects that tackle poverty in the capital is to be created after an appeal by the London Evening Standard newspaper raised more than £1m.
The money raised so far by the paper’s Dispossessed Fund has been match-funded by the Grassroots Endowment Challenge, a £50m government fund administered by the Community Foundation Network. Gift Aid will increase the amount further.
The Community Foundation Network is also looking into whether it has enough money left to match any additional funds raised by the newspaper’s appeal.
Prime Minister David Cameron called the appeal a "tremendous achievement".
The criteria for grants from the endowment fund have not yet been announced.
- The Grassroots Endowment Challenge is administered on the government's behalf by the Community Development Foundation, which subcontracts support for local funders to the Community Foundation Network.