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    Covid-19 Crunch Mobilizes Cash and Creativity

    May 01, 2020 5 minutes

    As countries scramble to contain the spread of Covid-19, they are also grappling with the economic fallout from the pandemic. With shuttered museums and canceled fairs and auctions, the arts sector is among many to take a serious hit.

    A number of governments in the Asia-Pacific region have mobilized funds to support their arts communities. In mid-February, Taiwan’s Ministry of Culture announced a TWD 15 billion (USD 495 million) relief package for those working in visual and performing arts, film, cultural heritage, and publishing. Hong Kong’s HKD 30 billion (USD 3.9 billion) Anti-Epidemic Fund includes HKD 150 million (USD 19.3 million) for the arts. As part of Singapore’s sweeping stimulus packages announced on March 26, cultural industries received a SGD 55 million (USD 38.6 million) boost on top of the SGD 1.6 million (USD 1.1. million) allocated earlier to the sector.

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