EXCLUSIVE: Nicolas Traube’s Paris-based Pampa Prods. and Brazil’s Conspiracao and Globo Filmes are teaming on one of the biggest Franco-Brazilian co-productions to date, “Rouge Bresil,” an €8 million ($11.5 million) theatrical movie and two-part telepic.

Entering its first TV deal, RioFilme, a Rio de Janeiro town hall equity investment film fund, has put up a minimum guarantee against international sales.

“Bresil” advances toward production as the state of Rio de Janeiro unveiled a $1.2 million-a-year film fund Monday at Cannes. The Rio State Culture-Midia Fund will provide grants and promote international co-productions shooting in the region, per Rio state culture secretary Adriana Rattes and Rio communications head Ricardo Cota.

Meanwhile, also Monday, the Rio Film Commission and RioFilme inked a collaboration agreement with Film London.

All three moves underscore Brazil’s escalating vibrancy in movie production, shoots and state-backing for movies.

“Bresil” stars actor-director Olivier Marchal and is helmed by Canadian Sylvain Archambault. Shot in English and set in 1550, it turns on the destruction of French Rio de Janeiro, roiled by religious wars.

Co-production is facilitated by 2010’s France-Brazil co-production treaty, which takes in TV production.

RioFilme has also equity gap-financed Julien Temple’s “Children of the Revolution,” co-produced by London’s F&ME and Brazil’s TV0, and invested in “Artificial Paradises,” “I Would Receive the Worst News From Your Lips” and “Dirty Hearts.”

The Rio-London pact will promote co-productions and the exchange of film and TV expertise as London and Rio build up to the 2012 and 2016 Olympic Games respectively.