“The U.K. government has revealed how its planned £1.57 billion ($1.9 billion) Cultural Recovery Fund will be disbursed across arts sectors,” writes Naman Ramachandran in Tuesday’s (7/28) Variety. “Of the total amount, the government has currently released £880 million ($1.14 billion), which has been split into two funding rounds. The first round of £622 million ($805.3 million) will be distributed immediately, while the remaining £258 million ($334 million) will be reserved for a second round of funding later in the financial year to meet the developing needs of organizations. In the first funding round, Arts Council England will oversee £500 million ($647.3 million) to support theaters, music and comedy venues and museums. This allocation includes £2.25 million ($2.9 million) in immediate support for grassroots music venues…. As part of the Arts Recovery Fund, grants of up to £3 million ($3.88 million) will protect important cultural assets and ensure arts and heritage continues to play a key role in levelling up the country. A new independent Culture Recovery Board will … help administer the program, advising on the largest grant as well deciding the beneficiaries of the £270 million ($350 million) repayable finance element.”
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