The Charities Aid Foundation (CAF) has reported a 17% increase in donations year-on-year.

More than £1m was given every day through CAF to more than 45,000 charities in the UK and around the world in the year ending April 2008.

Funds from individuals with a CAF Charity Account grew 22% to £93m, and Give as You Earn donations, made by companies and their employees, grew by 19% to £29m.

International and cross-border giving grew by 67%, to £30m. CAF Australia received over £8m funds for distribution, an increase from £3m in 2006/2007. CAF Russia received £4m in donations, a 22% increase.

John Low, chief executive of CAF, said, “Global economic uncertainty will make the coming year challenging for charities and donors alike, and CAF is not immune. Nevertheless CAF will do whatever it can to underpin the third sector in these difficult times.”

Low told Philanthropy UK that CAF will continue to “systematically improve the services we offer and the consistency of this internationally.”

Venturesome, CAF’s social investment fund, has grown to £8m, while CAF Bank now manages £924m for 14,000 charity customers.

Further details are available in CAF’s annual report, ‘The CAF Effect’, available on its website.