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09 December 2013

Funding tap opens for European culture 

Even in these days of tight purse-strings, the European Parliament has sent an encouraging signal to the continent’s creative communities: Nearly €1.5 billion will be distributed through the Creative Europe program over the next seven years, and overall arts funding will increase by almost 10 percent.

There’s more to this than loyalty to European traditions that anchor global culture. Art and culture represent an important industry across the region, worth 8 million jobs and nearly 5 percent of the European Union’s economic output.

The Creative Europe initiative will fund projects in film, literature, television and the performing and visual arts. The budget will support at least 250,000 artists, 2,000 cinemas, 800 films and 4,500 book translations – and open 750 million euros in bank loans to small businesses in these spheres. 

Among the program’s aims is to offer training that will help put Europe’s culture workers on a competitive footing with their peers around the world, while expanding their background in banking, finance and the funding of artistic initiatives.