The fund, which is managed by the National Lottery Community Fund, will provide multi-year grants of up to £100,000 to improve the sustainability of organisations within this vital sector.
Said the Foyle MLA: “The Dormant Accounts Fund will no doubt provide a vital cash injection to charities here, many of whom have struggled to keep their heads above water while continuing to provide services, amid the Covid crisis.
“The Charity Sector have played an invaluable role within our communities from the outset of the pandemic.
“As we near the end of a challenging year, we are faced with the stark reality that many charities are struggling to support themselves and their staff, let alone service users.
“Having previously heard testimony from representatives within the Sector at Communities Committee in recent months, the tightrope many charities are currently walking was laid bare.
“Many have been forced to cut costs, redundancies are imminent and their viability is decreasing by the day. As such, this funding comes at a critical juncture.
“While I appreciate that many within the sector have availed of emergency funding, this long term type of funding of multi-year grants of up to £100,000, will give organisations much needed security which will allow them to plan for the future and improve their sustainability.
“The Dormant Accounts Fund is now open and I would encourage all eligible organisations to apply.”