Prince William and Prince Harry have set up their own charitable foundation, it emerged today.
It will give grants to needy young people, wounded servicemen and women, and for sustainable development, both at home and overseas.
A St James's Palace spokesman said the organisation received approval from the Charity Commission last month and was called the Charitable Foundation of Prince William and Prince Harry.
"They have identified it as the primary vehicle for their charitable activities in the future," he added.
He declined to comment on newspaper reports that the brothers have invested a six figure sum of their personal fortune to create the foundation.
He said: "It will be a grant giving foundation, and will focus on three main areas - young people in society, veterans' affairs - the welfare of wounded servicemen and women and their families - and sustainable development, both in the UK and overseas."
The spokesman confirmed that Lord Janvrin, formerly Private Secretary to the Queen, would be chairman of the trustees.
A Clarence House spokesman said: "The Prince of Wales is pleased that his sons are beginning to develop their own charitable lives."
