The former culture secretary Jeremy Hunt’s proposal to hold a London or UK-wide biennial arts festival as part of the Olympic legacy has been scrapped.

The Cultural Olympiad Board recently submitted its recommendations on securing a lasting cultural legacy following on from the £127m arts programme that accompanied last year’s games.

The biennale was dropped from the board’s final recommendations, reportedly in favour of a £10m Lottery-funded programme to commission major works of art marking the centenary of the first world war in 2014-18.

Many initiatives started under the four-year Cultural Olympiad programme and the London 2012 Festival will continue, according to a spokesman from the Department for Culture, Media and Sport.

The Legacy Trust, which is one of the key funders tasked with securing a cultural legacy for the games, will continue to support six major projects that were developed in the lead-up to 2012.

These include Abandon Normal Devices, a digital culture festival in the North West, and Accentuate, a programme in the South East to increase the participation of deaf and disabled people in culture and heritage.

In addition, the newly established Spirit of 2012 Trust will be endowed with up to £40m from the Big Lottery Fund for a wide range of post-Olympic community projects, including cultural, art and educational activities. The Trust will shortly confirm successful applicants in its latest round of funding.