The Government has announced a new funding round with a further £400 million available in grants and loans will be available next year.
The Culture Recovery Fund has passed its £1 billion milestone with £654 million being invested in arts and cultural organisations.
According to the Department for Digital, Culture, Media & Support, funding which was held back in previous rounds will be available for organisations who are at imminent risk of collapse before the end of this Financial Year (31 March 2021). £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.
Commenting, Culture Secretary Oliver Dowden, said:
“This government promised it would be here for culture and today’s announcement is proof we’ve kept our word. The £1 billion invested so far through the Culture Recovery Fund has protected tens of thousands of jobs at cultural organisations across the UK, with more support still to come through a second round of applications.
“Today we’re extending a huge helping hand to the crown jewels of UK culture – so that they can continue to inspire future generations all around the world.”
The Government will release further detail about the new funding round ‘in due course’.