Culture ministry allocates HRK 300 mn for cultural and creative industries

The Ministry of Culture has allocated HRK 300 million for loans to the cultural and creative industries as part of a second package of measures aimed at restarting the production and distribution of cultural content, the ministry said in a press release on Friday.

The credit lines have been made available in cooperation with the HAMAG BICRO agency and the Finance Ministry pursuant to the European Commission's temporary framework to support the cultural and creative industries affected by the COVID-19 pandemic, the press release said.

The EC on June 17 approved the state guarantee scheme for loans to these industries.

The programme envisages HRK 300 million in loans for enterprises which will be able to get a bank loan of up to €800,000 at an interest rate of a maximum of 2%, with the state guaranteeing the entire amount of the loan. The loans will have a repayment period of five years with a one-year grace period.

This measure applies to enterprises such as architects, audiovisual activities (including videogaming), heritage, design, performing arts (theatre, dance and music), books and publishing, media, and applied and visual arts.

The programme has to be formally adopted by the government and in the meantime the ministry in cooperation with HAMAG BICRO will prepare an online manual and establish a contact point to facilitate access for entrepreneurs.

Text: Hina