Third round of Culture Recovery Fund announced in wake of coronavirus pandemic
More than 5,000 organisations have now benefitted from the Culture Recovery Fund, new figures have revealed.
The research, published by the Department for Digital, Culture, Media & Sport (DCMS), comes as the third round of grants is announced.
Launched in response to the coronavirus pandemic, the Culture Recovery Fund supports not-for-profit organisations and businesses in the arts, music and heritage sectors, such as museums, theatres, performance venues, historic sites, and cinemas. Through the scheme, applicants can apply for grant funding and repayable finance awards to cover the cost of closure and recovery during the pandemic.
Announcing the third round of grants, the report shows that the Culture Recovery Fund has now provided some £1.2 billion of support to 5,000 organisations across the country – protecting an estimated 75,000 jobs and up to 100,000 freelancers.
The third round – which will open to applications “shortly” – includes an additional £300 million of grants and funding to support organisations in the wake of the outbreak.
According to the DCMS, around £220 million of the funding will be available for both new organisations who are at “imminent risk of failure” and “existing recipients of CRF grants”.
Commenting on the scheme, Culture Secretary Oliver Dowden said: “Our record breaking Culture Recovery Fund has already helped thousands of organisations across the country to survive and protected hundreds of thousands of jobs. Now, as we look forward to full reopening, this funding shows our commitment to stand behind culture and heritage all the way through the pandemic.
“This round of funding will provide a further boost to help organisations build back better and ensure we can support more of those in need – safeguarding our precious culture and heritage, and the jobs this supports.”
The Culture Recovery Fund forms just one part of the Government’s response to the unprecedented challenges faced by the industry. The package also includes the Coronavirus Job Retention Scheme (CJRS), now extended until September, VAT and business rates relief for tourism and hospitality firms, and business grants and loans.
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