A creativity trust fund has been set up to strengthen investment in the cultural and creative industries.

These include heritage, performing and visual arts, as well as new-age creativity projects such as digital gaming. €200,000 have been allocated to set up the fund, which will also receive an annual contribution from the government.

The government it is also encouraging the private sector to invest – by means of donations - in the trust fund, set up in a joint effort between the culture and finance Ministries.

Culture Minister Mario de Marco and Finance Minister Tonio Fenech said the fund will not be replacing existing funding bodies, such as the Film Fund or the Arts Fund, but will serve to ‘top up’ existing funds;  seed the creation of new funds and schemes; or could even be used as an ‘emergency’ fund.

The Trust Fund, will be managed by the Board of Trustees, who will be investing the funds and the profits from these investments will be distributed to existing funding programmes or invested in capital cultural projects.

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