£165 million in repayable finance offered to support country’s most iconic cultural organisations

By December 11, 2020 Press Releases

On 9 December 2020, £165 million was offered to organisations including the National Theatre, Southbank Centre, English National Opera and the Royal Shakespeare Company, who will be supported by major loans from the cultural recovery fund.

The £165 million loans have been offered to 11 nationally and internationally significant organisations that demonstrated opportunities to engage local communities through education and outreach programmes. The organisations receiving loans provide work for more than 9,000 people, taking the total number of jobs supported by the Cultural Recovery Fund to more than 75,000.

The Government’s £1.57 billion Culture Recovery Fund has now surpassed the £1 billion milestone, supporting more than 75,000 jobs. £60 million in capital funding has been awarded for ongoing construction and maintenance with 75% awarded to organisations outside of London so far.

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