Multi-million pound loans to save our cultural crown jewels
over £ 165million has been given in loans to save some of the capital’s cultural gems.
They are among the top 11 organizations in the program which includes repayment holidays of up to four years, low interest rates, and repayment plans of up to 20 years.
The National Theater will receive £ 19.7million and the Royal Shakespeare Company will receive a similar amount.
Olivia Colman, who starred in Lucy Kirkwood’s Mosquitoes at the National, welcomed the news, saying: “Theater is at the heart of British creativity and the National Theater is a crucial part of it, whether it is working with young people across the country or to do shows. to delight the global audience. In addition to the grants to smaller theaters, it is wonderful to hear that the future of the NT is supported by this vital loan.
Culture Secretary Oliver Dowden said the government had “kept its word” to the arts.
He said: ‘The £ billion invested so far through the Culture Recovery Fund has protected tens of thousands of jobs in cultural organizations across the UK, with more support to come through a second round of nominations.
“Today we are extending a huge helping hand to the crown jewels of British culture – so that they can continue to inspire future generations around the world.”
Other organizations that will benefit include the English National Opera, the Royal Opera House and the historic Royal Palaces.
Elaine Bedell, managing director of the Southbank Center, said the loan was a “vote of confidence” in her future.
She said: ‘We have lost £ 25million from our income this year and this loan will help us stabilize our finances as we prepare to reopen all of our sites safely next spring. We still have challenges – but we can meet them now with creative optimism and look forward to rebuilding our ambitious artistic program. We are keenly aware that this loan is taxpayers’ money and we need to ensure that we are delivering value back to all the communities we serve, in London and across the UK. We look forward to reopening our doors and once again welcoming our audience and our visitors who have been missed so much.