The Canada Council for the Arts plans to provide approximately $60 million in advance funding to cultural institutions in an effort to help stabilize the sector.
The amount represents about 35 per cent of annual grants held by over 1,100 organizations that receive core funding, the council said.
This council is responding to shortfalls that cultural groups are experiencing due to the cancellation of public events needed to curtail the spread of COVID-19.
“There is an urgent need to alleviate the financial pressure on those organizations that are the backbone of the arts sector in Canada,” says Simon Brault, the council's CEO.
The advances are expected by May 4 to help groups meet financial commitments, ensure cash flow and make outstanding payments to the artists and cultural workers they employ, the council said.
The council also encouraged artists and arts organizations to explore measures recently announced by the federal government to assist businesses, employees and self-employed workers through the COVID-19 Economic Response Plan.
More information, including a COVID-19 update is posted on the council's website.
Source: Canada Council for the Arts