3 Aug 2009

ASB Community Trust to resume grants

3:26 pm on 3 August 2009

The ASB Community Trust is to resume making grants after being hurt by the global financial crisis.

The trust announced on Monday its grants budget for the 2010 financial year is $23.7 million - compared with $33.643 million the year before.

The fund was down by 18% by the end of the last financial year and trustees decided to postpone the next round of grants to give the fund some time to bounce back.

Chairman Kevin Prime says the trust fund is now recovering and they are making sure the real value of the assets is protected.