Creative Europe

Europe : A 1.8 bil­lion Euros invest­ment in cul­ture to stim­u­late the economy

On Novem­ber 23, the Euro­pean Com­mis­sion unveiled a plan to boost cul­tural and cre­ative sec­tors. With a pro­posed bud­get of €1.8 bil­lion for the period 2014–2020, it would be a much-needed boost for the cul­tural and cre­ative indus­tries, which are a major source of jobs and growth in Europe.

The new pro­gram would allo­cate more than €900 mil­lion in sup­port of the cin­ema and audio­vi­sual sec­tor (area cov­ered by cur­rent MEDIA pro­gram) and almost € 500 mil­lion for cul­ture (presently cov­ered by the Cul­ture program).

The Com­mis­sion is also propos­ing to allo­cate more than €210 mil­lion for a new finan­cial guar­an­tee facil­ity, which would enable cul­tural oper­a­tors to access up to €1 bil­lion in bank loans, and would pro­vide around €60 mil­lion in sup­port of trans-national pol­icy coop­er­a­tion and would also aim to fos­ter inno­v­a­tive approaches to audi­ence build­ing and new busi­ness models.

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