Schools and colleges, together with community groups and charities, will benefit from cash to be given out by Ulster Bank in the second round of its Skills and Opportunities Fund.

First launched in Ireland in 2015, the fund provides cash for projects in disadvantaged communities which support financial education and inclusion, and help people access the skills and opportunities needed to get into work or start a business. In this round the Bank will distribute a total €1.7 million to good causes in Ireland and the UK.

In last year’s round, two projects that benefitted were the Irish Youth Foundation Bike Project and the EPIC (Empowering People in Care) Peer-led Life Skills Programme for young people with care experience.

The Bike Project is a skills-based programme to train young people in deprived areas of Cork in bike mechanics, maintenance and entrepreneurship.

Ulster Bank said: “It encourages cycling and healthy living, develops life skills, promotes a sustainable community enterprise, reduces bike crime, develops creative citizenship, provides work experience, accreditation and internships. The project received €50,000 in funding in 2015 and has been so successful that they are now running a similar project in Co Limerick.”

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EPIC is a Dublin programme for young people coming out of the care system, who are vulnerable to unemployment and poor educational attainment. The project received €48,500 from the Ulster Bank fund last year and aims to improve employment and educational outcomes, providing peer-led life skills training to reach care leavers and deliver workshops on career guidance.

Pauline McKiernan of Ulster Bank said: “Ulster Bank is determined to make a difference in our communities. We believe that helping people gain skills and access opportunities to learn can help turn their lives around and build better communities for everyone; when we build stronger communities, we all benefit. We invite all community groups and charities, however small or large, to find out more about this fund and how it can support their work.”

The final date for applications is September 9. Applications will be shortlisted and then subject to a public vote which will run from October 21 to November 4.