The Isle of Man Government has announced it will provide around half a million pounds to support the Family Library for the next five years.

A schedule has been agreed which will gradually reduce government support over the term of the agreement while the charity develops alternative income streams.

An initial grant of £125,000 will be supplied in August 2022, with annual sums tapering before a final instalment of £65,000 concludes the arrangement in August 2026.

A total of £475,000 will contribute towards the continuation of services, which include the Mobile Library, Children’s Library and Home Delivery Service.

The annual payments will be taken from the Bona Vacantia Fund.

Treasury Minister David Ashford MBE MHK said: ‘The Family Library plays an important role for many in our community and I’m pleased that the arrangement will secure the future of services over the next five years while the charity explores how it will operate into the future.’

Family Library director Kurt Roosen said: ‘The Family Library is very grateful to the Treasury team in reaching a pragmatic and structured solution, and pleased that the efforts of our people are recognised as an important contributor to community wellbeing.

‘We will continue to build on that trust that has been placed in us now we have some longer term certainty in which we can properly plan ahead.’