George Osborne has announced that a land mine clearing charity is to receive a £10m grant which will be funded by fines levied on banks for abusing the Libor system.
The Chancellor of the Exchequer made the announcement that Find a Better Way will receive the funding from the Treasury at a Downing Street reception for the charity earlier this week. The Cheshire-based charity, which was founded in 2011 by footballer Sir Bobby Charlton, will use the money to support the charities scientific work in clearing land mines and its work on the regeneration of limbs for survivors of landmine accidents.
Osborne said: “I have met with Sir Bobby Charlton and the team, and seen for myself the brilliant work that they do. That’s why I’m delighted to be able to donate £10 million of Libor bank fines to help them continue their invaluable research into regenerating limbs, which will not only help the UK develop world-leading technology, but most importantly save and improve countless lives across the globe.”
The £10m forms part of more than £200m of fines from banks which was earmarked for military good causes.
One of the charity’s key areas of focus is its work with the regenerative medicine programme Resolve, led by Imperial College London. Find a Better Way has received the funding to spearhead key areas of the programme, which was launched in October 2014, specifically to attract and commit to the best research, academic, and leadership talent for the delivery of its first five years.
Rob White, the charity’s chief executive, said: “We are delighted with the commitment of this government funding today which represents a significant milestone for Find a Better Way in our ambition to deliver our five year vision. This will support the flagship Resolve programme to drive technological advances and deliver key clinical milestones in the management of trauma from land mine injuries.
“Our focus as a charity is on the impact of accidents from explosions but there is no doubt that this pioneering work will have the potential to support many who have, for example, lost limbs through road traffic accident or illness.”
Sir Bobby Charlton said: “This funding from HM Treasury will help to achieve the aspirational goals we set out when we launched the charity over four years ago. It will play a pivotal role in improving the lives of thousands who live with the horrific trauma caused by land mines and help to ensure the success of these critical programmes.”
