The London Time Banks Programme is set to expand and introduce training schemes for more voluntary sector organisations after being awarded a £127,000 grant from the Big Lottery Fund.
The money will mean that the New Economics Foundation, which runs and administers the scheme, will be able to provide training in how to set up new time banks and encourage more people to get involved with the scheme.
Time banks, where people exchange skills and share resources, have proved an effective way of galvanising community action. Voluntary groups and charities can use time banks as part of community volunteering schemes and regeneration programmes.
“The time bank concept has grown significantly in London over the past three or four years and this grant will enable us to have a positive impact on even more communities,” said Karen Lyon, network development manager at the New Economics Foundation.