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HomeSociety and CultureCultureThe "Creative Europe" Programme will promote cultural initiatives in Europe
1,462 billion € of budget

The “Creative Europe” Programme will promote cultural initiatives in Europe


On 17 July, the Representatives of the EU Member States agreed on the compromise text of the Regulation establishing the Creative Europe Programme with a view to finalizing agreement with the European Parliament on this European Commission´s proposal.

The COREPER (consisting of representatives from the EU Member States) underlined the importance of agreeing the file as soon as possible. This decision will enable the European Commission to continue the preparations for the programme.

The “Creative Europe” Programme (2014-2020) will bring under a single umbrella three currently self-standing programmes that have provided EU support to the cultural and audiovisual sectors: Culture, MEDIA and MEDIA MUNDUS programmes. Joining existing programmes will give more opportunities for projects operators and will facilitate the implementation of the programme.

In addition to grant funding, the proposal includes a financial instrument aimed at capacity building of the financial intermediaries to better understand the cultural and creative sectors. The Guarantee Facility (expected to be managed by the European Investment Fund) will provide guarantees to banks dealing with small and medium-sized entreprises operating in cultural and creative sectors, thus enabling those SMEs easier access to bank loans. Financial institutions as private banks or any other operating in the financial sector can be involved.

The programme will be EU´s main instrument to promote cultural and audiovisual initiatives in the Europe and beyond. Not only will it encourage creativity, it will also have a direct economic impact on growth and job creations. The overall budget of the programme is EUR 1,462 billion.

Of interest