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Sweden is the latest country to propose an event cancellation fund that will provide event organisers with a financial safety net during the ongoing pandemic affecting the music industry around the globe. The Swedish Government has proposed a budget of  SEK 3 billion (equivalent to €294,906,000 or $352,335,900) to help cover the costs of cancelled events during the second half of the year (July to December 2021) where, typically, a lot of major events such as festivals, stadium tours, and gigs take place. Under the event cancellation fund, organisers will be granted reimbursement of up to 70% of lost costs that occur. According to reports, the European Commission must approve the fund before the Swedish Government can move ahead with the plans.

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