Tallinn could possibly be facing a loss of an EU grant of over 23 million kroon (€1.46 million), after failing to produce a funding guarantee.
Tallinn is this year’s Capital of Culture and the grant was in order to support city funded events. However, after the organisers of this year's events failed to provide a funding guarantee to grant officials, the grant was delayed. Organisers have until 28th June to produce a new funding guarantee, however success of receiving it is currently looking doubtful.
Failure to receive the grant could prove damaging for Tallinn’s economy and the events which it plans to hold later this year as the EU grant has already been included in the city’s budget this year.
It is looking possible that Tallinn could be going down the same path as last year’s culture capital, Vilnus, which received a significantly lower turnout than was expected, due to poor management, and ended up having to cancel many major events. |