Louvre Denon Wing, which borders the Seine to the south. In 1983, French President François Mitterrand proposed, as one of his Grands Projets, the Grand Louvre plan to renovate the building and relocate the Finance Ministry, allowing displays throughout the building. Architect I. M. Pei was awarded the project and proposed a glass pyramid to stand over a new entrance in the main court, the Cour Napoléon. The pyramid and its underground lobby were inaugurated on 15 October 1988 and the "Louvre Pyramid" was completed in 1989. The second phase of the Grand Louvre plan, "La Pyramide Inversée" ("The Inverted Pyramid"),
Louvre least one announcement reading "Free entrance offered by the archeologists" has been attached to the ticket desk and a number of people visited the museum free of charge. The Louvre is owned by the French government; however, since the 1990s it has become more independent. Since 2003, the museum has been required to generate funds for projects. By 2006, government funds had dipped from 75 percent of the total budget to 62 percent. Every year, the Louvre now raises as much as it gets from the state, about €122 million. The government pays for operating costs (salaries, safety and maintenance),