Designed to reinforce the contribution of the cultural and creative sectors to Europe's broader economic and sociopolitical objectives, Creative Europe makes an explicit link to the Cultural Agenda and the goals of the Europe 2020 strategy. The programme pools and replaces the previous Culture, MEDIA and MEDIA Mundus programmes, with the twofold objective of promoting European cultural and linguistic diversity and cultural heritage, and to 'strengthen the competitiveness of the European cultural and creative sectors, in particular of the audiovisual sector, with a view to promoting smart, sustainable and inclusive growth' (Article 3). In terms of programme architecture, two distinct subprogrammes for culture and the audiovisual sector are established, acting, purportedly, as successors to the previous Culture and MEDIA programmes. The two subprogrammes share a set of common objectives which focus on encouraging the transnational circulation of works and the mobility of cultural and creative actors, capacity-building, audience expansion, and supporting transnational policy cooperation and the financial capacity of cultural and creative operators. These objectives define the priorities and measures of the two subprogrammes and those of the programme's third arm, a strand with a cross-sectoral remit. More than half of the programme's €1.46 billion budget shall be absorbed by the media subprogramme (at least 56 percent), the culture subprogramme shall receive at least 31 percent and the remaining (maximum) 13 percent shall be allocated to the crosssectoral strand, which consists of two components. The first component covers support measures for the promotion of transnational policy cooperation through exchanges of know-how in relation to new business models, documentation and policy dialogue. The second component, innovative in the context of cultural support, is about a Guarantee Facility, to become operational in 2016, with a view to facilitating access to finance for cultural and creative operators. The programme is open to bodies established in member states and a wide range of third countries. The Guarantee Facility is open to organisations established in member states, the European Free Trade Agreement countries that are party to the European Economic Agreement and the Swiss Confederation.