– This article was corrected on 22 June 2017; please see final paragraph

Armed forces and emergency services charities have been invited to apply for grants from the latest round of Libor fine funding.

The government has been giving selected charities and good causes funds raised from banks that were fined for illegally fixing the inter-bank lending rate, or Libor, in 2012.

In the latest round of funding, which opened to applications today, charities and community interest companies can apply for grants for projects that will support serving or former members of the armed forces or the emergency services and their families.

The Treasury, which is managing the fund, has not announced how much funding is available and the exact amount is not expected to be finalised until all the applications have been assessed.

The government has given out more than £700m in Libor fine funding since 2012.

There is no upper funding limit for applications and guidance put out by the Treasury says some projects might be funded in part if full funding is not possible. 

Organisations can bid alone or in partnership, with one partner deemed to be the lead organisation.

The Treasury said its assessment criteria included the difference each project would make to the armed forces and emergency services communities, the value for money it offered and how sustainable it was.

Applicants that ask for funding for a capital project would have to have match-funding of at least 50 per cent, the Treasury said.

The department said some projects would not be funded in this round, including those that focused on the delivery of emergency services, those focused primarily on heritage and conservation activities or those where the primary beneficiaries were members of the public.

The closing date for applications, which must be submitted online, is noon on 25 August. Final decisions will be made in November.

For more information and to apply, click here.

– The story originally said projects would be funded either in full or not at all.