The Valletta 2018 Foundation is still compiling the costs spent on the extravagant opening ceremony on 20th January. However, a spokesperson from the Foundation confirmed none of the money came out of EU funds. 

A projected €49 million was allocated for the entire build-up and celebration of Valletta’s first ever tenure as the EU’s capital of culture from 2014 till 2018, with €19 million allocated for the actual celebratory year. 

Although it is technically an EU project, the lion’s share of the costs (€39 million), came from the Maltese government, with the remaining €10 million sourced from sponsorships, EU funds and forecasted revenue. 

The Valletta 2018 opening ceremony attracted an estimated 100,000 people – practically a quarter of the entire Maltese population. Four public spaces in the capital hosted hourly entertainment events, including a much-debated acrobatic spectacle at the newly-redesigned Triton Square. 

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Tim Diacono

Tim is interested in the rapid evolution of human society and is passionate about justice, human rights and cutting-edge political debates. You can follow him on Instagram or Twitter/X at @timdiacono or reach out to him at [email protected]