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<p>In 2013, the Government made £35 million available to deliver Armed Forces Covenant
commitments from fines levied on banks for the attempted manipulation of Libor. The
cross-Government Covenant Reference Group, which is chaired by the Cabinet Office
and includes representatives from key Government Departments, the Devolved Administrations,
the Service charity sector, and the three Service Families Federations, set the priorities
for the fund. The first two tranches focused on mental health and support for Service
families, while the third tranche was open to any project meeting the principles of
the Covenant.</p><p> </p><p>In 2014, a further £40 million of Libor funds were made
available specifically to support veterans with a housing need via the Veterans Accommodation
Fund (VAF). The criteria and application process for both schemes were published on
gov.uk.</p><p> </p><p>Both funds were administered by the Armed Forces Covenant team.
Against the agreed priorities, applicants had to demonstrate evidence of need, experience
of providing a service and value for money. A decision panel was convened to agree
the final allocation of funding.</p><p> </p><p>The panel for the £35 million fund
sat three times between 2012 and 2014 and included representatives from the Ministry
of Defence Covenant and Financial Governance teams, H M Treasury, COBSEO, the three
Service Families Federations, and the Welsh and Scottish Governments.</p><p> </p><p>The
panel for the VAF sat on 7 July 2014 and included representatives from the Ministry
of Defence Covenant and Financial Governance teams, H M Treasury, the Welsh and Scottish
Governments, the Army Families Federation, The Royal British Legion and COBSEO Housing
Cluster.</p><p> </p><p> </p><p> </p>
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