A £2m donation has been made to two charities to help end youth homelessness in Coventry and Manchester.
The money will be split between the charities Centrepoint and St Basils which will get £1m each.
It has been donated by the Coventry Building Society and Co-operative Bank.
Ashley West from St Basils said it would “make a huge difference for young homeless people in Coventry”.
The building society completed its takeover of the bank in January, and the project focuses on both institutions’ home cities.
Mr West said: “The key thing about homelessness is it’s individual, every single person who’s homeless will have their own story.
“What this money enables is another answer, another solution for their problem, and that will make it more likely we can give them the help they need.”
Figures from Shelter two years ago suggested Manchester had one of the highest proportions of homelessness in the UK, at one in 74 people.
According to Coventry City Council, around 200 people a week are now asking for help with rough sleeping in its city.
Almost 2,000 young people reached out to the authority between April 2022 and March 2023, a 20% increase on the previous year.
Radio 1 presenter and Centrepoint ambassador Dean McCullough, who has experienced homelessness first-hand, supported the donation announcement.
He said: “As someone who has experienced homelessness at a young age as well as later in life, I know how vital and life-changing a project like this can be.
“It’s fantastic to see that so many organisations are committed to tackling youth homelessness and ensuring more young people affected by it have access to the homes they deserve.”
The money is already being used by Centrepoint to start work on an independent living project to build 30 new affordable homes in south-east Manchester for struggling young people.
St Basils says it is hoping for a similar outcome in Coventry.
Lucy Becque, Group Chief People Officer at Coventry Building Society, said: “Every young person deserves a safe place to call home and the chance to reach their full potential.
“By supporting Centrepoint and St Basils, we are investing in practical, long-term solutions that empower young people to lead independent and fulfilling lives.
“The society and the bank have already donated over £4.5m to Centrepoint, and this additional £2m donation demonstrates our shared commitment to tackling youth homelessness head-on.”
