[ad_1]
The Greek film industry was helped by the Greek Development Bank (HDB), which launched a €62.5 million ($62.48 million) loan guarantee scheme for the audiovisual sector.
Provided by Audiovisual Producer Greece (SAPOE) in Thessaloniki Film FestivalThe industry segment of Agora Talks, a program dedicated to film, video and television production and computer game development.
HDB offers a guarantee rate of 80% for low-interest loans ranging from EUR 25,000 to EUR 900,000 from the cooperative banks Piraeus Bank and Optima Bank.
Guarantee funds are considered supplementary financing The tool complements the country’s 40% cash rebate program available for feature films, documentaries, TV series, animated films and digital games.
Athina Chatzipetrou (pictured), CEO of HDB, explained in a crowded room of film and TV producers: “It’s a vehicle to finance your company, your company’s investments, based on a business plan assessed by an investment committee.
“You own a company, you are creative, you have your product, but you are also an entrepreneur, so you need to remember that you need to check the package of financial tools that you have at your disposal. You have cash back on that product; You can use this product as an investment, directly into your business.”
Chatzipetrou added that producers also have other options from HDB that are not necessarily limited to film and television, such as a new 800 million euro growth plan aimed at facilitating the merger of the companies.
The HDB chief also touted the bank’s creation of the InnoAgora digital network platform with the French Development Bank, which enables companies, investors and business support structures to enter into investment agreements and business partnerships.
“It’s like the Facebook of the company because it’s more interesting because it’s not just targeting Greece, but the wider European context.”
Simos Manganis, head of Green Olive Films, stressed the need for proof of cash flow to secure bridge financing, especially for foreign films shot in Greece that intend to use cash rebates. “We’re creating an ecosystem where we have policies, tools and filmmakers, we’re just missing that part of the creative chain, this simple, sustainable dynamic.”
Leonidas Christopoulos, secretary general of the Greek Ministry of Digital Governance, agreed with Manganis and assured that discussions would be made to make cash flow proofs possible.
Christopoulos stressed that the cashback has strong government support.
“We want the cash rebate scheme to continue, which is why we have managed to withdraw another €200 million from European funds and have secured a national budget of €75 million. At the same time, we will continue to focus on simplifying the regulatory framework because Always need an update.”
[ad_2]
Source link