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European Union Has Increased Culture Bailout to €2.8 Billion

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The final budget includes an extra €600 million for European member countries to spend on culture over the next seven years.

The European Union has decided on a €1.8 trillion ($2.1 trillion) recovery agreement, which will include a provision of €2.8 billion ($3.3 billion) to support the cultural field, ArtNet reports.

The final budget includes an extra €600 million for European member countries to spend on culture over the next seven years, beginning in January 2021. The additional funding for culture comes after some pushback from culture officials after the initially proposed budget was released.

The next step is for the budget to be formally adopted by the European parliament and the council and ratified in December by member states.

Read more on ArtNet.



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