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Thursday, 25.04.2024, 00:00
Teterevs and ABLV to sponsor the construction of Museum of Contemporary Art in Riga
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The museum is to be ready for a grand opening on November 18, 2021.
The financing is ensured by the Contemporary Art Museum Foundation, which was established by Inara Tetereva and Boriss Teterevs Fund and the ABLV Charitable Foundation. The founders have granted EUR 30 million for the new project.
Minister Melbarde said she hopes that the new museum will initiate creative educational programs and artistic experiments, involving children and young people. She also was glad that the new project is sponsored by private investors, and hoped that their example will encourage other investors to involve themselves in new culture projects.
Sponsor Inara Tetereva noted that this specific museum is necessary because Art Academy students need a venue to exhibit their works.
Boriss Teterevs said that, although the construction process for Contemporary Art Museum will be lengthy, foundation members are not worried about the scale of the project, because ABLV Charitable Foundation already has experience with such ventures.
ABLV Charitable Foundation has a contemporary art collection consisting of more than 200 works.
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