It will match the money over 10 years and work with Radio 1Xtra to develop a dedicated new funding programme to support young black talent, as well as a plan of action that will support individuals, organisations and groups in all areas of the UK and fund a range of activities which will enhance the lives of young black people.
Stormzy said: “Further to making my pledge last month, I’m happy to hear that the BBC have also taken up my plea for others to pledge.
“I’m also pleased to know of their commitment to allow young black people to decide where the money will be spent, and I believe this decision is an imperative factor in supporting and strengthening the young black community. We continue to urge others to join us in pledging.”
Funding will be made available to support young social entrepreneurs in making a difference in their local communities, to develop young leaders and youth leadership, to enable access to education and learning, and to develop young people’s skills and confidence for work.
Funding applications will be considered by a grant-making committee facilitated by BBC Children in Need, which will include young people and experienced volunteers.
BBC Children in Need trustee Kenny Imafidon said: “Over the past few weeks, some of the systematic and institutional racism that exists in the UK has been laid bare, open for all to see.
“This racism is not new and many people from the black community, like myself, have had to endure the negative effects of it all.
“The anti-racism movement in the UK has truly gathered momentum to bring about sustainable and long-lasting change. Many people, groups, businesses, and brands have had to reflect, look inwards and ask themselves ‘What can I or we do to change things and make a difference?’
“I can speak for the entire board of trustees and all the staff at BBC Children in Need when I say we were really inspired by Stormzy’s pledge.
“I am excited about this new fund and I truly believe that this is the beginning of greater things to come, as we continue on our mission to support children and young people most in need.”
Simon Antrobus, chief executive of BBC Children in Need, said: “As a charity, we exist to unlock and celebrate the talent in every child and young person; in order to do this, we need to support them to overcome any barriers that stand in their way, including racial injustice.
“Recent events have been a stark reminder that we all have a responsibility to act: BBC Children in Need is committed to playing our part in addressing these issues and creating a fairer society in which young people can thrive.
“I’m delighted that we will be working alongside Stormzy to make a real difference to young black lives right across the UK.”
Additional reporting by Press Association