LONDON, June 11 (Reuters) - Britain, Australia and Canada on Thursday launched a peace fund to complement broader efforts towards a two-state solution to the Israeli-Palestinian conflict, with each country contributing £1 million ($1.34 million) to the initiative.

Below are key details about the fund as set out by the British government:

o The fund will focus on new and existing grassroots projects - particularly those that include youth groups, civil society organisations and women.

o The £3 million fund will seek to scale up and attract additional donors once operational.

o Fund announced ahead of meeting in Britain between UK foreign minister Yvette Cooper and her Australian and Canadian counterparts, Penny Wong and Anita Anand.

($1 = 0.7458 pounds)

(Reporting by Sam Tabahriti; editing by William James)