The European Commission and the European Investment Fund (EIF) announced three new agreements to enhance access to finance for European creative small and medium enterprises.
Signed during the 77th Festival de Cannes and backed by the InvestEU, these agreements are set to mobilise around €141 million for the cultural and creative sectors.
Thierry Breton, Commissioner for the Internal Market, stated, “The EU is committed to helping cultural and creative businesses finance innovative projects, supporting European diversity and economic development. These agreements will enable European film producers to secure financing for projects, maintaining Europe’s audiovisual creation at the global forefront.”
The agreements involve three intermediaries from France, Germany, and Finland. The French Institute pour le Financement du Cinéma et des Industries Culturelles (IFCIC) will focus on audiovisual productions. German studio Beta Film will support independent European producers with additional financing and promote international distribution. The Finnish Impact Film Fund (FIFF), managed by Aurora Studios, will back artistically and commercially ambitious films and TV series.
The European audiovisual sector is highly innovative with significant growth potential but often lacks financial strength for international competition. Funding from InvestEU will provide new solutions and support to help creative companies achieve their ambitions.
