A €40 million Covid-19 support package for community and voluntary organizations as well as charities and social enterprises has been launched.
The funding, which was announced by the Department of Rural and Community Development, will come from the Dormant Accounts Fund.
This fund has been specifically set aside to support initiatives which benefit the most disadvantaged groups in society.
€35 million of the fund will be for organisations that have seen their trading or fundraising income drop off due to the impact of Covid-19.
The package also consists of a €5m Government commitment to a Philanthropy Fund which will focus on supporting responses to the Covid-19.
The Fund will be administered by Pobal in conjunction with the Department of Rural and Community Development.
The Minister for Rural and Community Development Michael Ring said: "Today's announcement shows that Government has heard the concerns of the sector.
However, it should be said that while the funding provided will be very welcome...I recognise that significant challenges remain for community and voluntary groups and charities during this time.
"Government Departments and Agencies will continue to work closely with the sector in managing through these challenges over the coming months."
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The Wheel, which is the umbrella body for the sector, welcomed today's announcement saying the funds would go some way in protecting the services provided the sector "at a time when they are most needed".
The organisation's CEO Deirdre Garvey said many charities have seen their income collapse, and a shortfall of up to €400 million in generated income is being forecast this year.
Ms Garvey said: "The unprecedented mobilization of volunteers and resources to provide these services is being made possible by the expertise and collective effort of our long-existing community, voluntary and charity sector.
"Surveys conducted by The Wheel over the last few weeks show the significantly increased demand for the work that our sector does in communities and within families.
"However, this has occurred at a time when charity fundraising and the possibility of earning income through service fees, for example, has been completely decimated."
