LONDON — The European Commission has given the green light to two Dutch film funds, which have a total budget of Euros 162 million ($223 million) and an annual budget of Euros 27 million ($37 million).
The coin will be given in the form of a direct grant, which must be less than 50% of the budget, except for “difficult” and low-budget films.
“The commission is satisfied that the new Dutch film funds comply with European Union state aid rules. Thanks to the co-operation of the Dutch authorities, we were able to approve these schemes, which aim to produce and release high quality Dutch films, quickly,” EC competition commissioner Neelie Kroes said in a statement.
Pics will have to meet three out of seven criteria to qualify for support. These include that the original screenplay should be mainly set in the Netherlands or another EU member state; at least one of the characters should be connected with Dutch culture or language; the original screenplay should be written mainly in Dutch or be an adaptation of a Dutch literary work; and the main theme of the film concerns art, an artist, historical figures or events, or addresses cultural, social or political issues relevant to the Dutch population.
The EC’s approval for the schemes will end on July 1, 2013.