Germany unveils film finance plans

Fund will hand $80 million to local production companies

BERLIN — The office of Germany’s federal commissioner for culture and media has published a draft outline of the government’s long awaited new film financing scheme.

The fund provides Euros 60 million ($80 million) a year for the production of features, documentaries and animated pics made in Germany by locally based companies. The Production Cost Compensation Model will cover up to 20% of a film’s budget.

The Federal Film Board, which already handles the federal film subsidy, will oversee the new fund, which remains subject to approval by the European Commission.

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