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The Social Investment Agency has revealed that its initial round of funding will focus on children of families with complex needs.
To qualify for funding, organisations will need to be working with children whose parents are, or have been, in prison, or working with children whose parents experienced the care system.
It also covers children that were stood down or suspended from school when they were 12 or younger.
The secretary for Social Investment, Andrew Coster, says children who have had these experiences are more likely to experience poor outcomes and require significant social support throughout their lives.
