BlackRock has announced it is renewing its partnership with The King’s Trust, awarding a grant of £1.2 million from The BlackRock Foundation.
The money, to be paid over three years, will support 3,500 young people to access entry level roles within the UK’s National Heath Service.
In a statement on social media platform, LinkedIn, Sarah Melvin, head of UK and Europe and Chair of Africa for BlackRock, said: the grant comes “at a crucial time.”
She said: “Nearly one million young people across the UK are out of employment, education, or training – the highest level recorded in 11 years. Our funding will address youth unemployment and support underrepresented young people.”
The BlackRock Foundation has partnered with The King’s Trust since 2022. The Trust – founded in 1976 as the Prince’s Trust – is dedicated to supporting young people, particularly those from disadvantaged backgrounds, to build confidence, develop skills, and achieve their goals.
It offers courses, mentoring, and support for finding jobs or starting businesses and assists young people aged 11 to 30 to live, learn, and earn, providing them with the tools and opportunities they need to succeed.
The BlackRock Foundation was established to create a more inclusive and sustainable economy. It focuses on several key areas, including economic mobility, financial resiliency, and sustainability.
It was established by BlackRock to advance the firm’s social impact initiatives. It is funded by contributions from the fund management group.