Concern as 2020 ‘funding pledges’ fail to materialise
Only a small fraction of the €3 million in private sector funding pledged by businesses to Galway 2020 has been collected so far, the Galway City Tribune understands.
Galway was designated as the European Capital of Culture for 2020, following a competition that was decided in July 2016.
The announcement brought an outpouring of goodwill locally towards the project that was matched by the business community, which pledged sponsorship to fund the year-long celebration of culture.
Galway 2020 devised a plan to capitalise and cash in on this goodwill by raising €2,020 or more from 2,020 businesses and organisations.
It is understood that they had received the full 2,020 pledges of funding from businesses, amounting to a little over €4 million but the bid book budgets for €3 million.
However, sources familiar with the figures have confirmed to this newspaper that Galway 2020 hasn’t collected the funding pledges.
“It is of huge concern,” said one well-placed source.
“They may have collected a handful of pledges but the vast majority haven’t been collected and businesses who have made the pledges are wondering what’s going on. A bird in the hand is worth two in the bush and they really need to concentrate on collecting the money that was pledged before businesses change their minds.” This is a preview only. To read the rest of this article and details of events planned for 2020 which were released under Freedom of Information, see this week's Galway City Tribune. Buy a digital edition of this week's paper here.
Get the Connacht Tribune Live app The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.