The ancient medieval city of Guimarães, which will be one of two European Capitals of Culture in 2012, is to benefit from sponsorship for events from Portugal’s tourist board, Turismo de Portugal.

Although the investment has yet to be specified, the year-long event is expected to cost around 111 million euros, 70 million of which will be provided by the municipal authority for infrastructure and 41 million from the Guimarães City Foundation for cultural events.

The city, known as the cradle of the Portuguese nation, was selected by Brussels in May to be one of two European Capitals of Culture.