Armed Forces Covenant Libor Fund success

30th October 2013

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Prime Minister David Cameron has announced The British Forces Foundation as among 23 charities to receive a grant from the Armed Forces Convenant Libor Fund.

News came from Downing Street that The BFF had successfully bid for the money to enable it to do even more shows for more troops over the coming year.

The money is the latest tranche of a £35m pot of fines imposed on the banking industry for attempting to rig the Libor inter-bank lending rate, awarded to military causes.

Mr Cameron said: "It is fantastic that so many armed forces charities have now been able to benefit from fines from the banking industry - it is right that this money should be used to benefit the forces community.

"The whole nation owes a moral obligation to our troops and these companies are leading the way by making respect and support for the armed forces a part of everything they do."

The intention of the Libor Fund is to support the two key principles of the Armed Forces Covenant, which are that the Armed Forces Community should not face disadvantage in the provision of public and commercial services, and that special consideration is appropriate in some cases, especially for those who have given most such as the injured and the bereaved.