With the objective of founding the Latvian Museum of Contemporary Art (LMoCA), the ABLV Charitable Foundation and the Boris and Ināra Teterev Foundation have founded the Latvian Museum of Contemporary Art Foundation. Drawing on the founders’ funds and other financing from private individuals and in partnership with the Ministry of Culture of the Republic of Latvia, the Foundation’s goal is to build the Latvian Museum of Contemporary Art, ensure the museum’s operation and governance, including the formation, maintenance and researching of the museum’s collection of contemporary art.
Believing that private initiative is of great importance to the development of society, the founders of the new foundation hope that this step will provide a powerful boost to the development of contemporary arts processes in Latvia, encouraging the formation of an integrated cultural space and making Riga a well-known and distinctive tourism destination. It is agreed that the Foundation’s founders will provide financing in the amount of at least €30 million for the development of the museum.
The Latvian Museum of Contemporary Art Foundation plans to open the museum building on 18 November 2021. After it enters service, the museum’s operations will be organised in accordance with the Republic of Latvia’s Museums Law, so that in conformity with the operating principles of a private accredited museum, the museum will be accessible to the general public and its collection will be included in the National Museum Collection Catalogue.
The Latvian Museum of Contemporary Art Foundation’s founders signing the memorandum of intent with the Ministry of Culture. Ernests Bernis and Oļegs Fiļs (ABLVCF), Dace Melbārde (LR Minister for Culture), Ināra and Boris Teterev (BITF)