The local administration in Arad will spend over €50 million in the competition for the 2021 European Capital of Culture title. The candidacy file has been finalized, and the funds are to be invested in cultural infrastructure and the “offer for Europe,” announced Mayor Gheorghe Falca.
The mayor explained that part of the money will go toward cultural infrastructure, specifically the restoration of several important buildings.
He specified that the estimated sum of over €50 million refers to direct investments, and if indirect investments in culture are considered, such as the reconversion of the Arad Fortress, the amount will exceed €200 million.
The candidacy file has been completed, and in early October, during a Local Council meeting, funding for each objective will be approved.
At the same time, the mayor announced that Arad is the only city in Romania that has decided to also run for the title of 2018 European Green Capital.
Source: Wall-Street
Frequently Asked Questions
How much is Arad investing in the European Capital of Culture bid?
Arad is investing over €50 million directly, with total investments potentially exceeding €200 million including indirect projects like the Arad Fortress.
What will the funds be used for?
The budget is allocated for cultural infrastructure, the restoration of historic buildings, and developing a cultural program for Europe.
What other titles is Arad competing for?
In addition to the 2021 European Capital of Culture, Arad is the only Romanian city bidding for the 2018 European Green Capital title.