Ancine, Brazil’s National Cinema Agency, has launched a R$5 million ($1.6 million) fund to invest in minority Brazilian film co-productions with 19 Latin American countries.
A financial investment by Brazil’s federal Fundo Setorial do Audiovisual will allow it to take a participation in each co-production. In exchange, the FSA will receive returns from project’s commercial revenues.
Unlike other international co-production financing schemes, the new fund will operate continuously, with an open application system while there are resources availability.
Selected fiction and animated feature projects will receive up to $80,750; each documentary will be backed with a $56,525 ceiling.
Ancine has classified Latin American co-production territories in three groups, taking into account their economic and structural characteristics and the extent of development of their film industries.
In this way, 50% of the fund ($0.8 million) will go to Brazilian co-productions involving Bolivia, Costa Rica, Cuba, El Salvador, Ecuador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Puerto Rico and the Dominican Republic.
In the second group, Brazilian co-productions with Colombia, Chile, Peru, Uruguay and Venezuela will have access to 25% of total fund ($0.4 million). Another 25% will be dedicated to Brazilian co-productions with Argentina and Mexico.
“Our goal is not only to ensure that more films from these countries are shown in Brazil, but also to expand the presence of Brazilian cinema in the international market. Besides the increase in film distribution, partnerships between Brazilian producers and other countries enrich the market, enabling professional exchange,” said Ancine prexy Manoel Rangel.
Coin will be accessible to film projects in any production stage that have not been completed. Also, projects must demonstrate prior guaranteed financing.
In Latin America, Ancine is currently backing a $1 million co-production fund with Argentina’s Incaa film institute, aimed to back six film projects, and, alongside Uruguay’s Icau agency, a $300,000 investment for two co-productions.