Two banks to help young Londoners, mayor announces
29th January 2010
Two major banks have offered thousands of pounds to help disadvantaged children in London. The Mayor's Fund for London has received a seven figure sum from a major global bank to support its work on helping disadvantaged children.
The bank that donated this amount has remained anonymous.
Meanwhile, global investment bank Nomura has pledged £150,000 to work with the Mayor's office and donate money education programmes.
Over the next three years, Nomura has agreed to contribute to the expansion of Saturday schools in the capital, which provide extra educational support to young people out of school hours.
Youth unemployment
At the World Economic Forum in Davos, Switzerland, London Mayor Boris Johnson appealed to big global banks that operate in London to donate their resources.
He called on bank chiefs to donate their time to the capital's charities and volunteering projects, and initiatives to help London's unemployed.
In a keynote speech, he also outlined his concerns that as the UK moves from recession, London's long-term workless will need more support to help them back into work.
"I pledged throughout the recession that I would do everything in my power to help ease the financial burden on Londoners," the mayor said.
"The UK economy might be creeping out of recession, but it is no time to relax as youth unemployment remains worryingly high. "
Nomura chief Sadeq Sayeed said: "As an active member of the city of London, we are proud to be working with the mayor on this project. "
The donation from the other bank remained anonymous because it was to the Mayor's Fund for London.
Donations to that fund are anonymous in an attempt to ensure a division between donations and the decision-making process of the mayor and the Greater London Authority.
Source: BBC