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New German $242m fund already backs 24 projects

The Germans were in bullish mood in Cannes yesterday, talking up their 'lean, straightforward' new Federal Film Fund to an audience of international producers. The Fund, worth $242m (180m) Euros from 2007 to 2009, is open to international co-productions. In the five months of its existence, it has already backed 24 projects, spending around $23.2m (17.4m Euros).This has included a 9m Euro grant to the Wachowski brothers' Speed Racer - 5m Euros more than the usual ...

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