The British Council is a key element of British soft power abroad (representation)
London:
The British Council, which promotes UK cultural and linguistic relations abroad, is seeking a multi-million pound bailout to avoid insolvency due to the impact of COVID-19, announced on Thursday government.
Foreign Minister Nigel Adams told parliament that the organization was looking for an “advance” of $ 60 million ($ 75 million, 66 million euros) from the government’s emergency fund.
“The British Council’s commercial revenues have been severely affected by COVID-19, resulting in significant losses and a risk of insolvency,” Adams told MEPs in a written statement.
Despite cost-cutting measures, such as layoff staff, the financial situation of the board was dire, he added.
“Without additional government support, the British Council will soon become insolvent,” he said.
“The Department of Foreign and Commonwealth Affairs is therefore seeking an advance from the reserve fund to provide an initial loan of up to £ 60 million to the British Council.”
The British Council is a key component of British soft power abroad, and works in more than 100 countries, with more than 7,000 employees worldwide.
It was founded in 1934 to promote British culture and combat the rise of fascism.
A spokesperson for the British Council said: “We are grateful to the British government for this generous loan which will help us stabilize”.
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