Council agrees €200k loan for Cork film festival

The country’s longest running film festival has been saved from financial collapse thanks to a €200,000 loan from a local authority.

Cork City councillors last night voted 18-8 in favour of extending the loan to the board of the cash-strapped Cork Film Festival, which was at immediate risk of receivership. The interest-free loan will be repayable over the next eight years.

The vote to save the festival was taken after councillors debated a proposal from the chair of the council’s arts committee, Nicholas O’Keeffe, to extend the loan.