BARCELONA — Film orgs in Argentina and Spain have teamed to launch a film fund under the aegis of Argentinean-Spanish co-production initiative Raices (“Roots” in Spanish).
Argentine’s INCAA film institute, Catalan subsidy board the Catalan Institute of the Cultural Industries (ICIC), and Galician promotion initiative the Galician Audiovisual Consortium will plough e450,000 ($613,350) into the fund for 2005.
It will be allocated to four productions, said Galician Audiovisual Consortium manager Ignacio Varela at the fund’s presentation in Barcelona Monday. Funds will be up and running from February, he added.
Launched in 2003 as an initiative for Argentine and Spanish filmmakers to explore common experiences, Raices has already inspired a clutch of Argentine-Basque and Argentine-Andalusian co-productions.
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These drew down local subsidies from established funding sources. The new initiative is the first time that a specific fund has been created to oil co-prods.
To tap the fund, productions must have co-prod equity from all three sources, ICIC director Xavier Marce added.