The Government’s £1.57 billion Culture Recovery Fund surpasses £1 billion milestone, supporting more than 75,000 jobs, with remaining £400 million on the way as plans for a further round of support announced
£60 million in capital funding has been awarded for ongoing construction and maintenance with 75% awarded to organisations outside of London
More than £165 million in repayable finance has been offered to support some of the country’s most iconic cultural organisations, including the National Theatre, Southbank Centre, the Royal Albert Hall and the Royal Shakespeare Company.
Plans for allocating the remainder of the £1.57 billion Culture Recovery Fund are also being announced today which will help organisations look to the future. Funding, which was held back in previous rounds to allow the Government to respond to the changing public health picture, will be available for organisations who are at imminent risk of collapse before the end of this Financial Year. £300 million in grants and £100 million in loans will also be available to support organisations’ transition back to usual operating mode from April 2021. Further detail on the rounds will be released in due course.