Stavros Niarchos Foundation withdraws 3-million grant from EMST
The Stavros Niarchos Foundation (SNF) on Thursday said that it was withdrawing a grant of three million euros from Greece’s National Museum of Contemporary Art (EMST), after the museum failed to meet agreed deadlines for the grant agreed 19 months earlier.
SNF noted that the EMST’s management had failed to promptly complete a series of processes agreed in order for the money to be disbursed and that the grant was therefore cancelled.
ANA-MPA sources said the SNF had informed the museum about its decision several days before but was willing to re-examine any application for funding submitted by the EMST.
The grant was crucial to the EMST since it was destined to help finance the acquisition of equipment and the transfer and presentation of its permanent collections to the museum’s new building.
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