The Scottish Executive and the Scottish Arts Council (SAC) have pledged £350,000 funding support for The Edinburgh International Festival.

The SAC will contribute £200,000, while the Scottish Executive will contribute a further £150,000 to the 2007 programme.

Culture minister Patricia Ferguson said: “This funding recognises our commitment to the event and also reflects its contribution to the cultural life of the whole economy.

“It is important that we consider the festival’s longer term financial stability with the director and other key stakeholders, as recently recommended in the Thundering Hooves report.

“We are closely examining the report’s recommendations about future support for all of Edinburgh’s festivals to ensure their longer term survival and international competitiveness.”

The SAC-commissioned Thundering Hooves report – which compared the success of Edinburgh’s 11 festivals against more than 20 worldwide – concluded that, despite the city’s pre-eminence, the Scottish capital should not rest on its laurels and must maintain its edge in view of the expanding popularity of festivals elsewhere.

SAC’s chief executive Graham Berry added: “Partnerships are central to the success of this type of initiative and we welcome Edinburgh’s commitment to considering the proposal, alongside the Executive’s agreement that the plan merits our additional support from the SAC.” Details: www.scotland.gov.uk