Final tranche of Libor funds handed out to good causes in Budget

Armed forces charities are the main recipients of a total of £36m of funding

Armed forces charities were the main beneficiaries
Armed forces charities were the main beneficiaries

The final £36m of Libor funding has been awarded to emergency services and military charities, the government announced in today’s Budget.

The latest funding ends the Libor Charity Funding scheme, which has awarded £773m to primarily military and emergency services charities since 2012. The funds were collected from banks that were fined for manipulation of the level of Libor.

The latest awards come after a 10-week application process throughout the summer that attracted 370 applications from charities requesting a total of £176m of financial support.

The 96 successful applicants, announced today, will receive the money from April.

The largest grant awarded was to the Scar Free Foundation, which received almost £3m in funding to support the Scar Free Foundation Centre for Conflict Wound Research at the Queen Elizabeth Hospital in Birmingham.

The Royal British Legion received two grants worth a combined £3m for national commemoration events and its "veterans’ return" project.

The Royal Navy and Royal Marines Children's Fund received £1.5m, and £1.4m was awarded to the Fire Fighters Charity to contribute towards a recovery centre.

Police Treatment Centres was granted £1.5m, and Help for Heroes was awarded £1.4m.

Zimbabwe a National Emergency received £1.3m to support 583 Commonwealth ex-servicemen in the country, and £1m was given to the Royal Air Force Benevolent Fund.

Supporting Wounded Veterans got almost £1.1m, the SSAFA received £1m, MOD Cadets got £1m, the NHS Highland Health Board was granted more than £1m, and the Army Benevolent Fund was granted more than £1.2m.

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