New, immediate term support to tide over this period
Sir, let me now touch on what else we will do, to support these sectors in the immediate term.
MCCY will provide immediate assistance to critical segments with special talents. We know that if we lose these talents, it could take years to recover. It will set us back in our efforts to promote arts, culture and sports in Singapore.
For the arts and culture sector, we will be providing an Operating Grant under the ACRP to support arts and culture organisations, and those in closely-related sectors. They hold key talents in our ecosystem and we must not lose them.
(a) Eligible arts and culture organisations will receive a one-off ACRP Operating Grant of either $75K or $50K which they can use to defray their operating costs, and the amount depends on the size of their organisation.
(b) We hope organisations that receive this grant will also provide many opportunities for employees, including freelancers.
(c) Pay it forward, such as what Objectifs and JASS, have done.
(d) This grant is expected to benefit over 300 organisations. More information will be made available by NAC in end-October, and we will also reach out directly to eligible organisations to tell them about this and assist them in their applications.
(e) With this grant, we expect to fully utilise the $55 million set aside for the ACRP by the end of Financial Year 2020.
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