Bank of Ireland has promised to make a €1 million donation to various charities in order to address the growing cost of living crisis.
The first part of this funding was already allocated back in January, with €500,000 fast-tracked towards organisations working with vulnerable people in Ireland. The remaining half of the €1 million sum will be issued to around 50 non-profit organisations in grants of up to €10,000.
The bank intends to help at risk groups, including struggling families and older people, through the initiative. The Hill Street Family Resource Centre will introduce family workshops at their centre thanks to the cash boost.
READ MORE: Cost of living: People too 'ashamed' to ask for help, says charity founder
Bank of Ireland Group CEO Myles O'Grady said: “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.”
The donations will be rolled out through Community Foundation Ireland. Other Dublin charities set to benefit from the sum include Alliance Ireland, Quarryvale Community Resource Centre CLG and parents-alone resource centre Doras Bui. Bank of Ireland previously launched its cost of living hub to help alleviate financial pressures brought on by the cost of living crisis. Advice on budgeting from the bank's financial team is is available on Bank of Ireland's website.
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