Ireland's Arts Council has confirmed its major grant allocations for 2010, with more than 350 arts organisations across the country set to receive a share of more than €49m (£42.6m).

The government agency - responsible for funding and developing Irish arts - has been faced with a €9m (£7.9m) reduction in its budget compared with last year as a result of public sector spending cuts. Some organisations will no longer receive funding through the Arts Council's three main programmes - Regularly Funded Organisations, Annual Funding and Annual Programming Grants, although there has only been a reduction of two in the total number of arts groups offered grants for 2010.

Theatre companies have received the largest share of the allocation, which will share more than €13m (£11.3m), while visual arts groups are set to benefit from more than €5m (£4.4m). The Arts Council has also confirmed it has maintained the cnuas - a stipend paid to members of Aosdána, a group of Irish creative artists - at 2009 levels and has minimised cuts to artists' retreat.

An Arts Council spokesperson said: "In its overall budgetary approach, the Council has allocated 20 percent of its direct funding to projects and awards. "As well as safeguarding funding for new and emerging artistic talent, this will provide opportunities for artists within organisations no longer funded on a recurring basis."