BNL backs Olmi
The Banca Nazionale del Lavoro (BNL) has assigned funds to two Italian film production companies, CinemaUndici and Albachiara. This is part of a wide-ranging project by the EIB (European Investment Bank) to increase the cash flow and improve funding conditions for Europe’s film and audiovisual industries.
CinemaUndici, who produced Ermanno Olmi’s The Profession of Arms ( made thanks to backing from the BNL) will receive funding for Olmi’s new film entitled Cantando dietro i paraventi. Albachiara, who were behind Piergiorgio Gay’s recent La forza del passato, will receive BNL money for Enzo D’Alò’s new film, La cantata dei pastori.
The BNL received a credit line of Euros 100 million from the European Investment Bank allowing the Italian institution to contribute up to 50 per cent of the total costs of film projects. (Grants can range from a minimum of Euros 40,000 to Euros 12.5 million). This 50 per cent upper funding limit also applies to Italo-European co-productions, the only criterion for eligibility being the direct involvement, with responsibility for at least 20 per cent of the budget, of an Italian producer.
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