The Cultural Development Fund (FDC) has rolled out its “2024 Revitalisation Funding Scheme for Historic Areas” subsidy programme, which is open for applications from today to December 30, welcoming local entrepreneurs to apply, the fund said in a statement yesterday.
According to the statement, the scheme encourages enterprises to operate commercial projects that match the distinctive characteristics of the city’s six historic areas undergoing an ongoing revitalisation process, so as to promote the vitality of those districts and, at the same time, reward projects that have helped promote the development of the districts during their operation period.
The applicants’ project must be located in one of the city’s six historic areas, and be recommended by the integrated resorts responsible for each area, and one project can only receive one subsidy, the statement pointed out.
The funding support will be carried out in the form of interest-free loans and incentives, with each loan to cover 90 percent of the estimated expenditure, subject to a ceiling of 500,000 patacas, which can be used for project operating capital, purchase of equipment, fitting-out work and promotions and publicity, while the incentive will be capped at 100,000 patacas for each project.
According to the statement, the funding period of the programme is capped at 12 months, while the total amount of subsidies and incentives must remain within the FDC budget of the relevant funding scheme.
The fund will hold a special seminar on October 3 from 3 p.m. at Cheng Feng Commercial Centre in Nape, and interested parties can sign up for participation through the fund’s website at www. fdc.gov.mo, or call 2850 1000 for any enquiries.
This poster provided by the Cultural Development Fund (FDC) yesterday shows the details of its subsidy program for the city’s six historic areas’ ongoing revitalisation drive.
