Cash Injection Spells A Bright Future For The Belfast Festival

The organisers of the once troubled Belfast Festival at Queens can breath a sigh of relief today after Ulster Bank announced a major three-year sponsorship deal of the annual arts event. The deal is believed to be worth over £1m.

The news has been hailed as "a new dawn" for the festival, which was faced with closure just over a year ago due to a shortfall in public and private funding.

Speaking at a special ceremony this morning Ulster Bank Group Chief Executive Cormac McCarthy said the bank's support of the arts would help bring the festival to a wider audience.

Today's news follows the announcement last December of a £300,000 grant for the festival over the next three years from Arts and Culture Minister Edwin Poots.

Festival Director Graeme Farrow said the new deal would help deliver some of the biggest and best festivals in years.

"In previous years we haven't had the kind of money to spend to make the festival visible in the city centre," he said.

"One thing is for sure, this year, if you are in Belfast you'll know there's a major event going on."

Northern Ireland Arts Minister Edwin Poots has said that the bank's move should send out a clear message to the business community that the arts sector is a good investment. He also added: "This is not just philanthropy, but also good business that will benefit our community, our economy and our perception around the world."

(GC)