Minister for Rural and Community Development Michael Ring has today announced the launch of a €40 million package of supports for Community and Voluntary Organisations, Charities and Social Enterprises.
The €40 million funding package is being made available through the Dormant Accounts Fund, which is specifically set aside to support initiatives which will benefit the most disadvantaged groups in society.
The package consists of:
- A €35 million ‘COVID-19 Stability Fund’ which will provide a level of support to qualifying organisations who are most in need and have seen their trading and/or fundraising income drop significantly during the crisis; and
- A €5m Government commitment to a Philanthropy Fund, (Innovate Together) which will focus on supporting responses to the COVID-19 crisis that require innovative and adaptive solutions to existing and emerging challenges.
This new funding is being provided in addition to the more than €45 million in funding, announced last November, for the Dormant Accounts Action Plan 2020. That funding was allocated for 43 separate measures to be delivered across 9 Government Departments to benefit disadvantaged groups.