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INSTITUTIONS Spain

ICAA grants over €61m in funding

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The Institute of Film and Audiovisual Arts (ICAA) allocated a total of €61.2m in funding for Spanish film in 2007, to 326 companies. This figure is given in the report that has just been published by the institution dependent on the Ministry of Culture.

The report lists the applications received for each type of subsidy, as well as the amounts granted to the films and companies selected. This is the first time that the ICAA has produced a report of this kind and it will be published annually from now on.

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According to the data given in the report, the total budget – which was 11.43% greater than in 2006 – was earmarked for different types of grants. The lion’s share of the subsidies was allocated for the amortisation of features, accounting for €50m (or 75.85% of the total).

This was followed by feature film production (€8m, or 12.14%), the reduction of credit interest on production (€2.5m – 3.79%) and the distribution of European films (€1.5m – 2.28%). Lesser amounts were set aside for the screening and promotion of films at international festivals, the preservation of negatives and original media, short film projects and the production of shorts, and the reduction of interest on loans for film exhibition and film production equipment. Finally, funding was also allocated for the development of feature screenplays.

In comparison with the previous year, there was a significant increase in funding for feature film production (+33.33%), the reduction of interest on production (+28.78%), and, to a lesser extent, the financing of shorts (+9.09%) and amortisation (+8.7%). The other items, however, remained stable.

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(Translated from Spanish)

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