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Athens Municipality to Support Businesses Active in Culture with €7.7 Million

Photo source: @OPANDA

The Municipality of Athens has announced that it will allocate 7.7 million euros to help businesses active in culture, including museums, theaters and cinemas, stay above water.

According to an announcement by the municipality, the funds will support the liquidity of local culture businesses affected by the coronavirus (Covid-19) pandemic and help them reopen.

Part of an umbrella program of 40 million euros launched by the municipality in November, the funds are aimed to support entrepreneurship and employment in the Greek capital.

The Athens Development and Destination Management Agency (ADDMA) on Thursday, January 28, will issue an official call for business owners to apply for funding. The financial aid will be provided in the form of a non-repayable grant (working capital).

Funds will cover a working capital equal to 50 percent of the company’s expenses in 2019. It will reach a minimum of 5,000 euros and a maximum of 200,000 euros.

Only companies with expenses of over 10,000 euros are eligible to apply.

Their activity, as described on the relevant government KAD (Business Activity Codes) list, must include – among others – the projection of movies; organization of conference and commercial exhibition services; visual arts and support services, art creation; museum activities; operation of historic areas and buildings; and the organization of entertainment events.

Photo Source: @Greek Film Center

The municipality has posted a pre-announcement of the call on the websites of ADDMA (www.athensib.gr),  the City of Athens (www.cityofathens.gr) and the Hellenic Development Company (www.elanet.gr) for all interested parties.

“It is our moral obligation to support the people of culture. The initiative aims to keep the city’s businesses alive. Because Athens needs its businesses and businesses need Athens. We won’t be able to face this crisis if we do not stand together and try to recover all that the pandemic has taken away from us,” Athens Mayor Kostas Bakoyannis said.

The program is funded by the European Regional Development Fund under the Operational Program “Attica 2014-2020 – NSRF 2014-2020”.

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