Non-European countries may soon gain access to public funding programs that were until now restricted to the 47 members of the Council of Europe.
The European Convention on Cinematographic Co-Production, a film body responsible for regulating co-production treaties within Europe, is about to institute reforms that would open up funding to foreign countries. The Council of Europe’s co-production fund Eurimages already started its international expansion last year with the inclusion of Canada.
Roberto Olla, who heads Eurimages, told Variety that “the idea behind the changes is to adapt this legal instrument to the challenges of the present and of the near future: globalization and digital technology.”
Olla had previously explained that current restrictions had become obsolete since most member states had bilateral treaties with non-European countries.
A commission of experts is currently prepping a draft that will be debated at the Council of Europe’s parliament and voted on around May.
Eurimages counts 47 member states and supports feature films and animation as well as documentaries. Under the current regulation, minority co-producers must bring at least 10% of budgets for multilateral co-pros, and at least 20% for bilateral co-pros, but those caps might be reduced as part of the upcoming overhaul.
Recent movies backed by Eurimages include foreign-language Oscar nominee “Mustang” (pictured above), Cannes competition players “The Lobster,” “Two Days, One Night,” “Clouds of Sils Maria” and “Blue Is the Warmest Color.”