Youth Cultural Bonus worth €210 million funded by Spanish Government

YOUTH Cultural Bonus worth €210 million funded by Spanish Government through EML Payments Limited and Spanish Post Office Correos.

Approximately 500,000 virtual prepaid cards will be issued and loaded with a government input of €210 million in support of the culture sector, which was badly hit during the pandemic.

Direct aid of €400 on an instant virtual card, which can be upgraded to a physical card, will be given to each eligible young person in Spain who turns 18 in 2022.

The funds can be spent on various cultural products and activities, including the performing arts, live music, films, libraries, museums, festivals, sheet music, records, books, audiobooks and magazines.

The stimulus programme, part of Spain’s General State Budgets, will see €210 million pumped into the country’s economy over the next 12 months.

The government will promote the new aid programme to revitalise and stimulate the cultural sector in Spain, guaranteeing the sustainability of the cultural and creative industries after the negative impact of the pandemic.

It also promotes universal and diversified accessibility to culture, promoting loyalty amongst young people to generate the habit of consuming cultural products.

“We’re very happy to be able to collaborate with the Ministry to promote culture amongst young people. This project, which is part of the Correos Prepago business line, positions Correos as a benchmark for the delivery of social aid and financial inclusion within the company’s strategic framework of diversification,” said Manuel Zapatero Sierra, Director of Products & Services at Correos.

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