Single Team To Handle Multiple Projects

I am a scrum master working for a small sized NGO. We implemented Scrum five months ago. Until now, we have been doing quite well but now we have to take up another project, which is also of top priority. My problem is we have a limited development team and cannot expand, as we are dependent upon NGO funds to operate. And now we have to work upon another project simultaneously. I can work out separate backlogs for the two projects and the team can schedule time and work on two projects simultaneously. But how should I deal with the meetings? Should we have a common meeting for both the projects to save time, or should we hold separate meetings? And what would be the best way of allotting development time for the projects? Moreover, the team cannot put in extra efforts or working hours to deal with the second project. I look forward to advice and suggestions so I can plan the implementation. Thanking you.

Posted By - Ivan