Paris Louvre will create its own endowment fund for the right to control who will fight on 18 banks

Swiss bank UBS, JPMorgan Chase and U.S. 16 more financial institutions poboryutsya for the opportunity to manage the endowment fund (endowment fund), created by the French Louvre. That was reported by Bloomberg.

into this fund will be transferred to funds received from the Government of the United Arab Emirates (UAE) for the creation of the Louvre branch in Abu Dhabi. In February 2009, the fund will be transferred 175 million euros (230 million dollars). It is expected that another 250 million euros received by the fund between 2009 m and 2027 year.

means that the Louvre will transfer to the fund in February 2009, is planned for future use for the construction of additional storage of exhibits, updated exhibits ancient Greek and ancient Roman art, as well as opening of new exhibition halls.

Paris Louvre had sold the UAE the right to use its name in the future, a branch museum in Abu Dhabi in March 2007. The deal was about 400 million euros. With a total construction cost was estimated at branch billion euros. It is expected that construction of the branch will be completed in 2012.

Louvre owns the third largest art museums in occupied areas. Paris is the most visited museum in the world - in 2008 it was visited by 8.5 million people.

Endowment Fund established museums to invest the funds received from ticket sales and as gifts. This scheme is most prevalent in the United States. Listing in the endowment fund, museums require their use in long-term and medium term.

Source: lenta.ru