LIBOR Funding and its Impact
This DSC report reveals the impact of LIBOR funding to hundreds of organisations and projects benefiting millions of people, including the Armed Forces community, Emergency services and the general public.
About the report
LIBOR Funding and its Impact provides a detailed look at the grants and projects awarded funding from three specific LIBOR funds: the HMT LIBOR Fund, the £35 million LIBOR Fund and the Veterans Accommodation Fund. It covers £578.2 million of funding in 472 grants to 334 organisations from the three funds, which provided vital support to a diverse range of projects across a wide range of areas, including social welfare, education, mental and physical health, housing and heritage projects such as museums, monuments, memorials and other commemorations.
The report tells the story of this funding, highlighting the work of many vital projects and organisations, and it provides both quantitative and qualitative data analysis as well as the results of a survey carried out with LIBOR grant recipients, many of whom explain the impact and transformative nature of LIBOR funding in their own words. Some projects still continue to support beneficiaries, and many have experienced challenges due to the COVID-19 pandemic, but as the report reveals, their work has had an important, often life changing impact on thousands of people thanks to this significant funding stream.
Funded by the Armed Forces Covenant Fund Trust (the Trust), which is responsible for the administration and management of LIBOR funds, the report shines a light on the breadth, depth and scope of the projects and organisations that have been supported by LIBOR funding, and illuminates the impact of this funding on its beneficiaries in the Armed Forces community, the Emergency Services and the general public. This funding, which originated from the fines imposed on a number of international banks following an investigation into the manipulation of the London Interbank Offered Rate (LIBOR), has touched projects large and small, local, national and international, and both high profile and unsung alike.
Armed Forces Covenant Fund Trust said
‘We are grateful to DSC for this wide-ranging report on projects funded through the LIBOR grants schemes, which explores the diverse range of projects, both large and small, that have benefited communities throughout the UK.‘ Melloney Poole, Chief Executive, Armed Forces Covenant Fund Trust.
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