The grants will fund a range of skills training, work placements and employment advice involving organisations such as the Peabody Trust, City Gateway, Princes Trust, Centrepoint and Sports Coaches UK.
The projects include sports and leisure training for young people, a project to create 40 new women-led businesses, catering and hospitality training, support for Bengali women to start up and develop businesses and training and training and work placements for 200 black and ethnic minority construction graduates.
Over 14,000 Londoners and 1,500 businesses will benefit from the funding which runs from 2007 to 2010.
Mayor Ken Livingstone said:
'The 2012 Games is a once in a generation opportunity for London to transform communities across the capital which have suffered from decades of under investment and neglect.
'Groups who suffer from exclusion, such as lone parents, black and ethnic minority communities and disabled Londoners, will get the advice and training they need to find work.'
London Development Agency deputy chief executive, Sarah Ebanja said:
'The 2012 Games is a major catalyst to increasing training and employment in London. It is our priority to ensure Londoners get the most out of Olympic opportunities and these projects will complement the extensive work already underway or planned in making this happen.'
Regeneration & transport