The British government announced Sunday a £1.57 billion ($1.96 billion) rescue package for the U.K.'s arts and culture sector after months of pandemic shutdowns, according to the Hollywood Reporter.

The relief includes £880 million ($1 billion) in grants for the financial year to April 2021, earmarked for theaters, music venues, heritage sites, museums, galleries and independent cinemas, with input taken from various bodies on the distribution of the funds. The government is also offering £270 million ($336 million) in repayable loans. 

"From iconic theatre and musicals, mesmerising exhibitions at our world-class galleries to gigs performed in local basement venues, the U.K.’s cultural industry is the beating heart of this country," said Prime Minister Boris Johnson.

"This money will help safeguard the sector for future generations, ensuring arts groups and venues across the UK can stay afloat and support their staff whilst their doors remain closed and curtains remain down."