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The Taiwanese Ministry of Culture plans to invest NT$ 70 million (US$ 2.4 million) throughout the year to support emerging artists.
Culture minister Lung Ying-tai's proposal for an "art bank" involves investing in the purchase of artworks, which will then be sold or loaned to companies, government agencies or private buyers in order to help artists gain exposure.
According to Lung, "the most important thing is to allow the works of these artists to be part of everyday life."
Lung credits similar initiatives in the US, Canada and Australia for inspiring the project, adding that her ministry is looking to expand the interaction of Taiwanese artists, art event organizers and art affairs personnel with the international cultural community.