It was confirmed today that Norwich Theatre has been awarded a loan of £2.5million through the government’s Culture Recovery Fund Repayable Finance Scheme, set up to support large-scale and nationally culturally significant arts organisations survive the ongoing impact of the Coronavirus pandemic.
The loan, which will be re-paid over an extended period beginning after the organisation has fully regained financial stability, follows an earlier grant of £3million from the Culture Recovery Fund Grants Scheme awarded in October 2020.
Norwich Theatre has been awarded this new financial support following a competitive application process and after demonstrating not only its plans for a sustainable and efficient recovery but also longer-term ambitious plans for developing new areas of work to increase its local, regional and national impact as it emerges from the pandemic.
Norwich Theatre Chief Executive & Creative Director Stephen Crocker said: “The fantastic support we have received so far through grants and donations, alongside the actions we have taken ourselves to ensure our future, have meant that we can survive. This additional and different form of financial support through the Culture Recovery Fund will not only ensure we continue to survive but, as we move beyond this difficult period, will also allow us to thrive.
The last year has been an incredibly difficult one and I am under no illusion that the next year will necessarily be any easier as we work to tread the fine line of recovery, renewal and regrowth. However, with this support and the steadfast loyalty and dedication of our audiences and communities, I am more optimistic than ever before for the future.”
Culture Secretary Oliver Dowden said: “Our record breaking Culture Recovery Fund has already helped thousands of culture and heritage organisations across the country survive the biggest crisis they’ve ever faced.
Now we’re staying by their side as they prepare to welcome the public back through their doors – helping our cultural gems plan for reopening and thrive in the better times ahead.”
In today’s Government announcement, more than £300 million has been awarded to thousands of cultural organisations across the country in the latest round of support from the Culture Recovery Fund. Over £800 million in grants and loans has already been awarded to support almost 3,800 cinemas, performance venues, museums, heritage sites and other cultural organisations dealing with the immediate challenges of the coronavirus pandemic.
The funding awarded today is from a £400 million pot which was held back last year to ensure the Culture Recovery Fund could continue to help organisations in need as the public health picture changed. The £400m pot has been awarded by Arts Council England, National Lottery Heritage Fund and the British Film Institute.