A CHARITABLE body created in the wake of a dispute over funding has promised to double its financial assistance.
The Bank Of Scotland Foundation, which was established in 2010 to channel financial awards from Lloyds Banking Group after it ceased funding of its old charity arm in a controversial court battle, has increased its giving to £2 million per annum.
It has created a medium grants programme, which is in addition to the foundation's small grants Programme and staff-based matched giving programme. The new scheme will see grants of between £10,001 and £25,000 awarded to charities across Scotland to develop and improve their communities, as well as improve financial literacy and financial inclusion.
The medium grants programme was launched by Kate Guthrie, the chairwoman of the foundation's board of trustees and personnel director of Lloyds Banking Group. She said: "The impact this will have on our ability to help charities across the breadth of Scotland, regardless of their size, will be significant.
"It places the Bank Of Scotland Foundation in an even stronger position to impact the critical work charities undertake within their communities."
The foundation was set up following an often bitter dispute between Lloyds Banking Group and the Lloyds TSB Foundation For Scotland, in which the banking group attempted to cut the percentage of its profits it was paying to the foundation, and others, as a result of losses sustained in the banking collapse.
A legal battle ensued, during which the Lloyds TSB Foundation For Scotland lost an attempt to recover more than £3.5m it claimed it was owed. The new independent Bank Of Scotland Foundation was set up in the wake of the situation.
Since its launch, the foundation has provided 295 grants to more than 250 charities across Scotland, donating more than £4m in total to charities across the country. These include Interest Link Borders, Citizens Advice Bureau, the National Autistic Society Scotland - all of which were some of the first charities to receive donations - as well as Breast Cancer Care. The latter charity has been awarded grants of more than £40,000 in the last two years, which has allowed the charity to extend its "HeadStrong" hair-loss service across the nation.
Samia al Qadhi, chief executive of Breast Cancer Care, said: "The fantastic grants offered by the Foundation are incredibly important to us. They not only mean we can support people affected by breast cancer now but help us plan ahead and expand our services to reach out and help even more.
"Every year, 4400 people are diagnosed with breast cancer in Scotland. We are incredibly grateful for this support and this announcement is great news for charities working across Scotland to help secure much-needed funds."
The foundation's donations have also reached more than 50,000 people and supported more than 50 new roles in charities across Scotland.
Lloyds Banking Group channelled more than £82m over 25 years to the foundation's predecessor, the Lloyds TSB Foundation For Scotland.
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