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Libor funding boost for military charities

Five Scottish charitable projects will receive £5.5 million from fines levied on City rate-riggers.

The latest allocation of funds from the Libor fines pot will be used to fund projects including housing and mental health support schemes for veterans.

In the biggest award from the latest funding round, Veterans F1rst Point will receive £2,560,586 to establish a number of mental health support centres in Scotland. Houses for Heroes Scotland will use £1,940,000 to build low-rent houses for wounded personnel and their families.

Secretary of State for Scotland Alistair Carmichael said: "It is right that fines received from banks who attempted Libor manipulation is being used for good causes across the UK to provide those serving personnel, veterans and their families with the support they need.

"Charitable projects across Scotland have benefited from £5.5m of Libor funding this year. Scotland's armed forces community as a whole will also benefit from UK wide projects which have received a share of the £35m of LIBOR funding.."

The other Scottish charities that will benefit are Scottish Veterans Residences in Glasgow which will receive £233,000 to provide temporary supported accommodation for veterans in Glasgow: the HMS Neptune Welfare Fund will receive £102,000 to refurbish a holiday cottage to ensure that the facility can be used by injured servicemen; and Rothiemurchus Lodge in Aviemore will receive £65,000 to upgrade various parts of the Lodge which is used exclusively as affordable self-catering holiday accommodation for Armed Forces personnel, veterans and their families.

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