City Bridge Trust is offering up to £3.5m in one-off, unrestricted grants to around 400 London-based charities in an effort to help ease pressures caused by high inflation.
The City of London Corporation’s charity funder, which awards grants of over £28m a year, will offer the funding to charities it had previously awarded restricted funding to on or before 1 May.
It made a similar move to remove grant restrictions during the Covid-19 pandemic, when it gave out £1.7m in unrestricted grants to existing grantees.
City Bridge Trust’s grants committee chair Paul Martinelli said: “The impact of inflation, not least through rising fuel bills and food prices, is placing increased pressures on charities at a time when people need them most.
“We know from feedback we got during Covid that these kinds of unrestricted grants are vital in allowing charities to use the funding in a way that best meets their needs.
“Just as during the pandemic, this funding will give our charity partners a helping hand in a time of uncertainty and allow them to do what they do best – to support vulnerable people and tackle disadvantage across London.”
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