Budget 2013: Donors, beneficiaries to be consulted on $200m cultural donation fund
To ensure that arts and heritage is funded and supported not just by the Government but also corporations and individuals, the Government will set aside a $200 million Cultural Donation Matching Fund to match private sector donations to arts and heritage groups, museums and institutions.
The fund was first announced by Deputy Prime Minister Tharman Shanmugaratnam in his Budget statement in February.
Acting Minister for Culture, Communication and Youth Lawrence Wong, elaborated on the fund in Parliament on Friday and said it hopes potential beneficiaries will do the fundraising.
He added that preliminary principles for the scheme aim to have it benefit a broad range of arts groups and institutions, and help the cultural sector build up its capability over the long term. The Ministry will consult donors and potential beneficiaries to see how best the matching scheme can be designed and firm up details later this year.