A MAJOR new city museum is receiving a huge cash boost ahead of its scheduled opening in 2027.
The Mayor of London and City of London Corporation are each injecting £25million towards the new London Museum, equating to a bumper £50million package.
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The funds will be committed to the museum’s new home – it’ll be based in the historic Smithfield Market – promising a state-of-the-art experience for history buffs.
The £50m cash boost will be bolstered further by the museum snaring another £30m in fundraising.
A total £437m has been earmarked for the new development’s budget as it moves from the old London Wall site.
New commitments from the Mayor of London and City of London Corporation mean the two bodies have now contributed £95m and £222m respectively.
Other funds are being secured through private donors, sponsors and philanthropy.
London Museum – formerly known as Museum of London – seeks to showcase the many different chapters of the vibrant city’s past.
While its new home at Smithfield is being built, London Museum Docklands remains open Monday-Sunday with free entry.
London Museum chief Sharon Ament said the new funds would help ensure the revitalised museum is world-leading.
Sharon said: “Thousands of Londoners are helping to shape this fantastic new museum which will not only explore our city’s rich history but the people and places that make it such a vibrant place to be.
“With the generous support of the GLA and the City of London Corporation, alongside our other funders and supporters, we are steaming ahead to deliver a transformative, world-leading museum that will be worthy of this great global capital.”
Mayor of London Sadiq Khan was quoted on a press release saying: “Culture is the DNA of our city.
“I am proud that we’re such an integral part of the creation of the new London Museum at Smithfield.
“It is one of the biggest cultural projects in Europe and will be a brilliant addition to London’s world-leading cultural sector.
“It will attract Londoners and tourists from around the world, generate new jobs and reinforce our position as a global creative capital, as we continue to build a better and fairer London for everyone.”
The museum says 70,000 Londoners have participated in shaping the design and displays of the new site.
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