BBF will continue to support films in Bavaria
The Bavarian bank fund for film support (Bayerischer Bankenfonds, BBF) has been extended for another ten years, after an agreement between the different credit organisations involved in the fund was promoted by Klaus Schaefer, director of the Bavarian Film Support Institute (FFF Bayern), and Siegfried Schneider, Bavaria’s Media Minister.
The BBF, set up in 2000 at the initiative of FFF-Bayern and the Bavarian regional government, is backed by Unicredit Bank AG (formerly HypoVereinsbank), Bankhaus Reuschel & Co, regional bank Bayerischen Landesbank, and regional credit institute LfA Förderbank Bayern.
Since its creation, the BBF has financed over 80 films, making loans available to the region’s producers and distributors to the value of almost €18m.
Applicants can obtain a loan of up to 100% of the amount recommended by FFF-Bayern, which carries out an expert evaluation of the project, with a maximum of €1m for film productions and €200,000 for theatrical distribution. The interest is not subsidised.
Projects must be commercially-oriented and have prospects of making financial profit, to which the BBF would be entitled to its share, in proportion to its investment.
In Schneider’s opinion, this partnership has shown that “banks’ investment in culture can be economically profitable”. According to Schaefer, the existence of BBF makes it possible for FFF-Bayern to devote more of its own funds to smaller projects and promoting new talents, as is its mandate.
(Translated from Spanish)
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