LLOYDS TSB FOUNDATION FOR NORTHERN IRELAND SECURES FUNDING

 

Northern Ireland’s Voluntary and Community sector received a major boost on Wednesday 16 December, 2009 when we confirmed the long-term future of funding streams for local organisations.

 

The Lloyds TSB Foundation for Northern Ireland has now concluded negotiations with its primary funder, the newly formed and expanded Lloyds Banking Group.

 

Together with sister foundations in England & Wales, and the Channel Islands, we will receive guaranteed funding every year for four years from 2010 to 2013, and at a higher level than in 2009. The three Foundations have also secured an ongoing commitment for at least the subsequent six years.

 

Sandara Kelso-Robb, Executive Director of the Lloyds TSB Foundation for Northern Ireland, said that the outcome ensures the Foundation will maintain and potentially expand funding and support for Northern Ireland charities at a time of very difficult and challenging economic circumstances.

 

She added: “Following turmoil in the world of banking there had been fears that the Foundation funding from Lloyds Banking Group would decrease in line with profits. However, the newly negotiated revenue stream will allow the three Foundations to inject funding of around £30 million annually into the UK Voluntary and Community sector."

 

Chairman of the Lloyds TSB Foundation for Northern Ireland, Gary Mills added: “This represents a successful conclusion to what was a far-reaching and comprehensive review of the funding arrangements between the Foundations and the newly established Lloyds Banking Group. All parties involved in the negotiations have been keen to ensure fairness and transparency at all times with the key focus being on supporting the most disadvantaged groups in society today. We are delighted with the outcome.”