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Louvre Museum leases its name and works for 10 years

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Louvre Museum leases its name and works for 10 years

Paris, Dec 3 (Prensa Latina) France announced today the renewal for 10 years of the agreement with the museum of the United Arab Emirates (UAE) so that it can use the Louvre name as a franchise of the famous cultural institution of Paris.
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The license, that will be valid till 2047, represents a revenue of 165 millions for France which will be received between 2022 and 2023, and in return the Louvre’s subsidiary in the emirate will receive four of its most emblematic works, without specifying which ones, as well as advice from French experts.

“France was the initiator in 2017 of this type of agreement, which was followed by other countries, and it was very important to extend it in the long term as long as the Louvre Abu Dhabi is absolutely magnificent and causes amazement to all who visit it,” said Culture Minister Roselyne Bachelot.

The fruit of an agreement between the two governments, signed for 30 years, the Louvre Abu Dhabi opened its doors in 2017, exhibiting works on loan from French institutions, as well as a collection acquired by the UAE authorities.

At the beginning of the health crisis that museum counted more than two million visitors.


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