Spanish, Portuguese and Latin American producers will soon have a fresh source of financing available for projects integrating "new technologies" through a new pan-regional funding initiative known as Cibermedia.
The initiative was formally approved this week by the Conference of Iberoamerican Film Authorities (CACI). It will launch in January 2002 with headquarters in Madrid.
Though few details are yet available concerning Cibermedia, it is expected to run parallel to existing pan-regional fund Ibermedia, which was ratified by CACI in November 1997.
Ibermedia doles out low interest loans to projects from member states in four categories: development, co-production, distribution and promotion, and training.
CACI member states which can access funds include Argentina, Bolivia, Brazil, Colombia, Cuba, Chile, Spain, Mexico, Peru, Portugal, Uruguay and Venezuela.