The initiative, called Propel, will support voluntary and community groups in driving change and tackling inequality among disadvantaged groups & young people.
The collaboration includes public, private and independent funders from across London, including Bloomberg, City Bridge Trust, the Mayor of London, Sadiq Khan, The National Lottery Community Fund, and London Legal Support Trust. It is coordinated by London Funders, the membership body for funders in the city.
Over the next ten years, Propel will support organisations led by and for disadvantaged groups, including young people, women and girls, LGBTQ+ communities, deaf and disabled people, and communities experiencing racial inequality.
The first grants available under Propel will help organisations support young people, build stronger communities and support sustainable advice services.
Organisations have until Friday, 9 December to apply for grants under the first wave of funding, with grants to be announced in March and April 2023.
Giles Shilson, City Bridge Trust Chairman, said:
“This ambitious new initiative, which supports our mission of tackling disadvantage and marginalisation across London, will target funding where it is needed most and help communities across the capital to address the issues which affect them.”
Mayor of London Sadiq Khan said:
“I’m delighted to join with organisations across London to create this fund to help tackle inequality in our city, with investment from City Hall being used to support young people. This is part of our ongoing work to provide positive opportunities for young Londoners, particularly those at risk of getting caught up in crime. We all have a role to play in building a safer and fairer London for everyone, and by working together we can ensure that this help reaches those who need it the most.”