Tuesday 2nd May, 2023 – Bank of Ireland has announced the next recipients of grants from its Cost of Living Fund today. The donations are targeted at groups including children and families at risk, older persons, domestic abuse charities, those with disabilities, lone parents and migrant communities.
The Bank has committed €1 million overall to organisations supporting those most at risk from cost of living pressures, with the funding divided into two tranches. The first part of the €1 million fund was allocated in January with €500,000 fast-tracked to 13 organisations working with vulnerable groups across the island of Ireland with grants from €25,000 up to €100,000. This second round of donations will provide up to 50 smaller non-profit organisations with vital financial support in the form of grants of up to €10,000.
Myles O’Grady, Bank of Ireland Group CEO, commented: “The rising cost of living is a significant challenge for many families across Ireland and that is why we committed €1 million in funding towards our cost of living response fund. Earlier this year we supported organisations working with some of the most vulnerable in our society, and we are pleased to announce today the second round of beneficiaries, which includes smaller organisations making a real difference in our communities and supporting those most in need.”
Denise Charlton, Chief Executive, Community Foundation Ireland, added:
“Local on-the-ground access and information is central to achieving our mission of equality for all in thriving communities.
Our unique connectivity allows us to identify emerging challenges impacting certain communities and has been vital in assessing the impact of the rising cost of living.
Partners like Bank of Ireland who share our equality mission allow us to use this local knowledge to strategically support not only those at risk, but also in identifying and implementing solutions. As a philanthropic hub for Ireland we greatly value this long-standing partnership.”
As with previous donations of this nature, the Bank is working closely with Community Foundation Ireland to support effective rollout of the fund. The Foundation has advised the Bank on a wide range of social issues and organisations that require immediate financial support and is managing the donation on behalf of the Bank.
Some examples of the ways in which beneficiaries will use the funds include:
A full list of the second round of grantees is available here: Cost of living hub | Bank of Ireland (bsw-dev.net)
Supporting the financial wellbeing of customers, communities and colleagues is a top priority for Bank of Ireland. Advice on budgeting and financial management from Bank of Ireland’s Financial Wellbeing team is available on Bank of Ireland Cost of Living Hub.