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| FSA
launches financial awareness fund for VCS |
27/06/05 |
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The
Financial Services Authority (FSA) has launched a £100,000 fund to
help voluntary and community sector organisations increase public financial
awareness through original projects.
The watchdog said it had created the fund, as part of the National Strategy
for Financial Capability, to assist organisation that help people deal with
their finances. It said a minimum of £100,000 had been made available
to fund projects running up until 31 March 2007, with the majority of awards
likely to be between £5,000 and £20,000.
The fund will run alongside the Royal Bank of Scotland’s £100,000
fund – which engages grass roots, practical pilots that directly tackle
financial issues – and the Department for Work and Pensions’
£3 million fund – which finances projects delivering new ways
of providing pensions and retirement advice.
Announcing the fund at the Financial Inclusion Forum, FSA chairman Callum
McCarthy said: “The Innovation Fund is designed to provide the financing
for experiments by those in the voluntary sector, aimed at tackling financial
capability. The fund is dedicated to new ideas specially aimed to support
practical, grass roots projects and will also enable us to establish what
does, and does not, work in practice.”
Closing date for applications to the fund is 15 September 2005 and the FSA
will announce the award winners by the end of the year. Information on the
fund and application forms can be found at www.fsa.gov.uk/financial_capability
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