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Racial justice fund receives £1m boost from Lloyds Bank Foundation

The racial justice fund will provide £5m in funding to Black and minority-led London-based groups by 2027, thanks to a £1m boost from Lloyds Bank Foundation.

The Foundation joins Trust for London and City Bridge Foundation in leading the fund, highlighting the growing commitment to racial justice for funders in the capital.

The fund has so far given out £2m to 13 organisations. This extra investment increases the remaining funds available to £3m.

Poverty impacts many people in London unfairly. But Black Londoners are some of the most heavily affected and are nearly twice as likely to be in poverty as white Londoners.

The racial justice fund aims to increase income and wealth in Black and minoritised communities. This means the focus is on projects working for long-lasting change rather than immediate relief like service delivery.

By collaborating and pooling resources in this way funders can increase the impact of the work and simplify application processes for potential applicants.

Trust for London will continue as the lead administrator of the fund.

If you’re interested in applying, find out more here.

Ugo Ikokwu, racial justice lead at Trust for London said:

“This partnership with City Bridge Foundation and Lloyds Bank Foundation is a big step forward. It means more money reaching the communities who need it most and more support for long-term change led by those directly affected.

“Whether it's influencing policy, tackling financial exclusion or building community wealth, we want to help scale what’s already working on the ground.”

André Clarke, director of charity development at Lloyds Bank Foundation for England and Wales, said:

“Lloyds Bank Foundation is proud to stand alongside Trust for London and City Bridge Foundation in backing this vital fund. Black and minoritised communities have long faced systemic barriers to building wealth and opportunity.

"This investment reflects our belief in community-led change and our commitment to funding work that addresses root causes, not just symptoms.”

Paul Martinelli, City Bridge Foundation chair, said:

“We’re proud to be collaborating with Trust for London and the Lloyds Bank Foundation on a programme which will have a powerful and lasting impact on addressing the economic inequality that continues to hold back too many Londoners—particularly Black and minoritised communities.

“The Racial Justice Fund reflects our commitment to making London a fairer, more equitable city. It also aligns closely with our new 10-year funding strategy, Standing with Londoners, where racial justice is a core priority—rooted in the need to tackle the structural barriers that drive injustice and inequality.”

About the funders

About City Bridge Foundation

City Bridge Foundation is a world-class bridge owner responsible for five Thames crossings – including the iconic Tower Bridge – and London’s biggest independent charity funder.

Since 1995, it has awarded over £840 million to charitable organisations working to tackle inequality and injustice across London.

The foundation has been bridging London and connecting communities for over 900 years. Its sole trustee is the City of London Corporation – the governing body for the Square Mile. 

About Lloyds Bank Foundation for England and Wales

We are an independent charitable foundation funded by Lloyds Banking Group. We work in partnership with small and local charities, people and communities, changing lives and working towards a more just and compassionate society.

40 years ago, we were founded by Lloyds Banking Group and its predecessors to benefit communities. Over our lifetime, we’ve invested £1 billion in real terms in more than 45,000 community organisations right across England and Wales.

Through unrestricted funding, support to develop and influencing policy and practice, we help small and local charities thrive, communities grow stronger, and people overcome complex issues and barriers so they can transform their lives.

About Trust for London

We’re one of London’s largest funders, and we’ve been supporting work for a fairer city since 1891. We fund organisations fighting for a poverty-free London.

At any one time we support around 300 organisations. The work we fund comes in many forms, from community groups helping to build skills and knowledge, to research and large-scale campaigns.

We support a significant number of groups led by those with direct experience of the issues being worked on. And we’re committed to making sure people have the evidence they need to make the case for change. So, alongside our general grant-making, we fund work like London’s Poverty Profile and London’s Cost of Living Tracker.

Whatever we’re working on, all our funded projects have one central aim – to make London a better, fairer city, by tackling the root causes of poverty.