Home

Louvre Museum Endowment Fund to Help Restore France’s Historica Buildings

By Rachel George

Share

The Louvre Museum Endowment Fund has agreed to help restore popular tourist sites in France.

 

This is the endowment’s third fund used to invest in preserving art, jewelry, and heritage, in regards to tourism and being the world’s most visited museum.

 

$289 million will help to preserve France’s historical buildings, parks, churches, and castles. Money from the fund has already been invested in an”impact fund,” dedicated to preserving historic buildings and parks around the country, according to Bloomberg. The  Originally created in 2009, the fund is run by a private-equity firm in Paris called Alter Equity.

 

RELATED: These Paris Train Stations Are Named After People Of African Descent

 

The fund’s mission is to finance the museum’s long-term investments through donations, corporate funding, and foundations, according to their site. The purpose of this project is to attract a new audience and maintain the international outreach of the Louvre.

 

This renovation calls for replacing original sculptures in the Tuileries garden for a more “environmental approach” in the heart of Paris and the popular Cour du Sphinx. To better accommodate the museum’s 8.3 million visitors, interactive kiosks and multimedia resources will be installed to help guide visitors.


 

RELATED: Gumbo Yaya Takes America’s Southern Flair to Paris

 

Impact funding is a way to merge social or environmental goals with making a profit.

“The missions of the Louvre are education, art, and heritage, as well as artistic professions and tourism, which is why we invested in the impact fund,” according to Chief Executive Officer Philippe Gaboriau. He also added the endowment’s returns have averaged almost 6 percent annually.

Share
Travel Noire

Rachel George

Want more?

Get exclusive, unpublished tips from Travel Noire's CEO to help you get off the beaten path, into the hearts of locals and onto a better, more cultured life.

Lingering Effects Of The Shutdown: Your Favorite Wine’s In Short Supply

Lingering Effects Of The Shutdown: Your Favorite Wine’s In Short Supply

The turn-up may be in limited supply this summer, thanks to the government shutdown. To distribute alcohol, including rosé, labels need to be approved by the Alcohol and Tobacco Tax and Trade Bureau through a Certificate of Label Approval. But since the bureau was closed during the 35-day shutdown, the approval process has been delayed, […]

Sharelle Burt

Flight Deal: Round-Trip Flights To Paris For As Low As $270

Flight Deal: Round-Trip Flights To Paris For As Low As $270

One thing there is to love about Paris is the fact that no matter how many times you visit, it’s truly a place that never gets old. Millions of people flock to Paris each year to visit the Eiffel Tower, the Louvre, the Notre Dame Cathedral, and for a good reason as these places are […]

Mitti Hicks

7 Black-Owned Boutiques Around The World

7 Black-Owned Boutiques Around The World

Finding a black-owned boutique to patronize when traveling is always a win. With black designers and entrepreneurs making strides in the world of fashion, we hope that there will always be a place to spend our money that keeps our dollars in the black community. Here are a few black-owned boutiques run by black entrepreneurs and […]

Bianca Lambert