Ms Lo was speaking after Carál Nί Chuilίn announced the passing of an Assembly budget meant £620,000 would be given to the organisation, which will subsequently feed it out to groups such as the Lyric Theatre, MAC, Grand Opera House and Ulster Orchestra.
The Alliance MLA said arts groups deserved praise, after their lobbying for the funding to be restored over the past number of months.
“The affected organisations came together and spoke with a strong voice, uniting to say they could take no more cuts and to showcase how vital the arts are to our wider society. They made the difference and put pressure on the Department, a move that should be recognised.
“The impact of the cuts in the first place have caused a great deal of anguish in the arts sector and as a whole, it is still underfunded compared to the rest of the UK. But nevertheless, this is welcome news and an extremely positive step.”