At the regular meeting of Francophone partners held in conjunction with the Cannes Film Festival, representatives from Québec (SODEC - Society for the development of cultural industries), Canada (Téléfilm Canada), the French Community of Belgium, France, Luxembourg and Switzerland approved an agreement in principle to establish a Francophone film development fund. The purpose of the fund is to foster the flow of investments in French-language feature-length fiction co-productions.
Endowed with a budget of 300,000 Euros, the fund is intended to help facilitate and develop Francophone co-productions. The Namur International Francophone Film Festival, which will take place this coming October 2-9, will manage the funds. Operational details will be released at a later date. Québec and Canada are each contributing 100,000 Euros, while the other partners will invest 25,000 Euros on an equal share basis.
Public institutions had long been hoping to establish common leverage. The Québec Minister of Culture, Communications and the Status of Women, Christine St-Pierre, who was in Cannes for the Festival and the Film Market, is pleased that this agreement in principle was signed since it will enable La Francophonie to play a vital role on the international film scene.
Ministère de la Culture, des Communications et de la Condition féminine (in French)
SODEC (in French)