Germany increases budget for art acquisition

On August 2020, the Government increased its budget for art acquisitions from 500,000 euros (US$ 581,544) to 3 million euros (US$ 3.5 million) as part of a new cultural initiative aimed at helping artists, galleries and dealers affected by the pandemic.The Government  will  buy around 150 works sourced from art fairs, small galleries or directly from the artists’ studios. Each work will be selected on the basis of the recommendations of five jury members, who will sit for a period of five years.
(See Germany increases national art acquisition budget by 600 percent)