MONTREAL -- Ottawa is committing $400 million over two years to support festivals and cultural events across the country. Half of the money will be used this year, even for those who have decided to postpone their activities or who plan to return in the summer of 2022. Federal Economic Development Minister Mélanie Joly and Canadian Heritage Minister Steven Guilbeault were on hand at the Phi Centre in Montreal Monday morning to offer more details on the funding, which was first announced in the last federal budget. First, $200 million will go to the Major Festivals and Events Support Initiative, with funds to be distributed through federal regional development agencies. The money will be used to support the cash flow for major events, but also to adapt to the pandemic and to comply with health regulations. It may be distributed in the form of grants or loans, depending on the nature of the event.