UK's COVID-hit arts and heritage organisations get £165m emergency loan package | attractionsmanagement.com news
GET ATTRACTIONS MANAGEMENT
magazine
Yes! Send me the FREE digital edition of Attractions Management and the FREE weekly Attractions Management ezines and breaking news alerts!
Not right now, thanksclose this window
POST YOUR JOB ONLINE
Free ezine/digital edition sign up
Jobs   News   Features   Video    Products   Profiles   Magazine   Handbook   Advertise  
NEWS
UK's COVID-hit arts and heritage organisations get £165m emergency loan package
POSTED 15 Dec 2020 . BY Tom Walker
Among the organisations to have received loans is Historic Royal Palaces, which operates the Tower of London and Hampton Court Palace Credit: Shutterstock.com/Petr Kovalenkov
Some of the UK’s largest arts and heritage organisations have been given a lifeline in the form of £165m worth of emergency loans.

The loans are part of the Government’s £1.57bn Culture Recovery Fund announced earlier this year, which aims to assist institutions and organisations hit by the pandemic.

More than £1bn has now been assigned from the fund, which – according to government figures – has supported more than 75,000 jobs.

Bespoke loans have been tailored for cultural institutions with an initial repayment holiday of up to four years, low interest rate and up to 20-year repayment term to ensure they are affordable for arts and heritage organisations.

The loans have been offered to 11 nationally and internationally significant organisations that demonstrated opportunities to engage local communities through education and outreach programmes.

Those benefiting from the loans include Historic Royal Palaces, which has been given £40m to help it return to financial stability while conserving world renowned historic sites like the Tower of London and Hampton Court Palace and presenting its nationally important collections to visitors.

Others receiving emergency loans announced today include The Royal Opera House (£21.7m), the National Theatre (£19.7m), the Royal Shakespeare Company (£19.4m), the Royal Albert Hall £20.7m, the Southbank Centre £10.9m and English National Opera £8.5m.

"The £1bn invested so far through the Culture Recovery Fund has protected tens of thousands of jobs at cultural organisations across the UK, with more support still to come through a second round of applications," said culture secretary, Oliver Dowden.

"Today we’re extending a huge helping hand to the crown jewels of UK culture - so that they can continue to inspire future generations all around the world."

Nick Serota, Arts Council England, added: "Today’s announcements are another vital step in securing the future of England’s cultural sector.

"The support for capital projects will help to ensure that we maintain an innovative, sustainable cultural infrastructure that supports world class creative work. The Repayable Loans will enable some of our most significant and internationally recognised cultural organisations to weather the effects of Covid-19 and reopen when it is safe to do so."
Sign up here to get the Attractions Management weekly ezine and every issue of Attractions Management magazine free on digital.
MORE NEWS
Pandemic having 'massive impact' on US attractions – losses estimated at US$23bn
The pandemic cost the US visitor attractions an estimated US$23bn in economic losses during 2020, while the sector also suffered job losses five times larger than the average loss across all other US industries.
First look: Disney's new Spaceship Earth night-time experience at EPCOT
Disney has released concept designs for its plans to transform the Spaceship Earth attraction at EPCOT theme park at the Walt Disney World in Orlando, Florida, US.
Merlin reveals Chessington's new Croc Drop tower attraction
Merlin Entertainments has revealed details of the new Croc Drop attraction, set to open at its Chessington World of Adventures Resort theme park near London, UK this year.
Outdoor visitor attractions and theme parks in the UK to reopen on 12 April
Most outdoor attractions in England – including zoos and theme parks – will be allowed to reopen their doors on 12 April.
+ More news   
LATEST JOBS
+ More jobs  

COMPANY PROFILES
RMA Ltd

RMA Ltd is a one-stop global company that can design, build and produce from a greenfield site upw [more...]
DJW

David & Lynn Willrich started the Company over thirty years ago, from the Audio Visual Department [more...]
iPlayCO

iPlayCo was established in 1999. [more...]
Triotech

Triotech was established in 1999. The company is based in Montreal, Canada and has additional offi [more...]
+ More profiles  
FEATURED SUPPLIER

Triotech and Benoit Cornet’s Bold Move to collaborate on breakthrough innovative media-based attractions
Triotech has announced a breakthrough alliance with Benoit Cornet and Bold Move to bring a new collaborative approach to the design of media-based attractions – with an emphasis on adding value for operators. [more...]
VIDEO GALLERY

Animalive - Introducing AnimaChat!
Introducing AnimaChat, one operator can live-stream into multiple venues. Find out more...
More videos:
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

05-07 May 2021

TEA SATE Europe 2020

PortAventura World, Tarragona, Spain
09 Jun 2021

IAAPA Expo Asia 2021

The Venetian Macao, Macao, China
+ More diary  
LATEST ISSUES
+ View Magazine Archive

Attractions Management

2021 issue 1


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2020 issue 1


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2019 issue 4


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2019 issue 3


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management News

06 Apr 2020 issue 153


View on turning pages
Download PDF
View archive
FREE digital subscription
Print subscription

Attractions Handbook

2019


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2021
Jobs   News   Products   Magazine
NEWS
UK's COVID-hit arts and heritage organisations get £165m emergency loan package
POSTED 15 Dec 2020 . BY Tom Walker
Among the organisations to have received loans is Historic Royal Palaces, which operates the Tower of London and Hampton Court Palace Credit: Shutterstock.com/Petr Kovalenkov
Some of the UK’s largest arts and heritage organisations have been given a lifeline in the form of £165m worth of emergency loans.

The loans are part of the Government’s £1.57bn Culture Recovery Fund announced earlier this year, which aims to assist institutions and organisations hit by the pandemic.

More than £1bn has now been assigned from the fund, which – according to government figures – has supported more than 75,000 jobs.

Bespoke loans have been tailored for cultural institutions with an initial repayment holiday of up to four years, low interest rate and up to 20-year repayment term to ensure they are affordable for arts and heritage organisations.

The loans have been offered to 11 nationally and internationally significant organisations that demonstrated opportunities to engage local communities through education and outreach programmes.

Those benefiting from the loans include Historic Royal Palaces, which has been given £40m to help it return to financial stability while conserving world renowned historic sites like the Tower of London and Hampton Court Palace and presenting its nationally important collections to visitors.

Others receiving emergency loans announced today include The Royal Opera House (£21.7m), the National Theatre (£19.7m), the Royal Shakespeare Company (£19.4m), the Royal Albert Hall £20.7m, the Southbank Centre £10.9m and English National Opera £8.5m.

"The £1bn invested so far through the Culture Recovery Fund has protected tens of thousands of jobs at cultural organisations across the UK, with more support still to come through a second round of applications," said culture secretary, Oliver Dowden.

"Today we’re extending a huge helping hand to the crown jewels of UK culture - so that they can continue to inspire future generations all around the world."

Nick Serota, Arts Council England, added: "Today’s announcements are another vital step in securing the future of England’s cultural sector.

"The support for capital projects will help to ensure that we maintain an innovative, sustainable cultural infrastructure that supports world class creative work. The Repayable Loans will enable some of our most significant and internationally recognised cultural organisations to weather the effects of Covid-19 and reopen when it is safe to do so."
Sign up here to get the Attractions Management weekly ezine and every issue of Attractions Management magazine free on digital.
RELATED STORIES
Cultural Renewal Taskforce will re-energise leisure and recreation sector


Baroness Martha Lane-Fox, Sir Nicholas Serota and former BBC and ITV chief Lord Grade are among a new post-COVID-19 taskforce, aimed at getting the country’s leisure and recreation sector up and running again.
Leisure industry bodies join UK government to tackle loneliness during lockdown


The UK government has launched a "major effort" to tackle loneliness and social isolation during the coronavirus outbreak.
ACE announces £160m fund to support culture organisations during COVID-19 outbreak


Arts Council England (ACE) has responded to the "massive and unsustainable loss of revenues" caused by COVID-19 by announcing an emergency £160m (US$191.2m, €176.4m) emergency funding package.
MORE NEWS
Pandemic having 'massive impact' on US attractions – losses estimated at US$23bn
The pandemic cost the US visitor attractions an estimated US$23bn in economic losses during 2020, while the sector also suffered job losses five times larger than the average loss across all other US industries.
First look: Disney's new Spaceship Earth night-time experience at EPCOT
Disney has released concept designs for its plans to transform the Spaceship Earth attraction at EPCOT theme park at the Walt Disney World in Orlando, Florida, US.
Merlin reveals Chessington's new Croc Drop tower attraction
Merlin Entertainments has revealed details of the new Croc Drop attraction, set to open at its Chessington World of Adventures Resort theme park near London, UK this year.
Outdoor visitor attractions and theme parks in the UK to reopen on 12 April
Most outdoor attractions in England – including zoos and theme parks – will be allowed to reopen their doors on 12 April.
Architects MVRDV reveal ambitious plans to create Marble Arch visitor attraction for London
A new visitor attraction at London's Marble Arch is set to anchor ambitious plans to "reimagine" the city's famous Oxford Street shopping district.
Coventry's former IKEA building slated to become arts and cultural centre of international importance
Coventry, the UK City of Culture in 2021, wants to seize a once-in-a-lifetime opportunity to create an arts hub to establish the city as an international destination for culture.
+ More news   
 
COMPANY PROFILES
RMA Ltd

RMA Ltd is a one-stop global company that can design, build and produce from a greenfield site upw [more...]
DJW

David & Lynn Willrich started the Company over thirty years ago, from the Audio Visual Department [more...]
iPlayCO

iPlayCo was established in 1999. [more...]
Triotech

Triotech was established in 1999. The company is based in Montreal, Canada and has additional offi [more...]
+ More profiles  
FEATURED SUPPLIER

Triotech and Benoit Cornet’s Bold Move to collaborate on breakthrough innovative media-based attractions
Triotech has announced a breakthrough alliance with Benoit Cornet and Bold Move to bring a new collaborative approach to the design of media-based attractions – with an emphasis on adding value for operators. [more...]
VIDEO GALLERY

Animalive - Introducing AnimaChat!
Introducing AnimaChat, one operator can live-stream into multiple venues. Find out more...
More videos:
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

05-07 May 2021

TEA SATE Europe 2020

PortAventura World, Tarragona, Spain
09 Jun 2021

IAAPA Expo Asia 2021

The Venetian Macao, Macao, China
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2021

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS