Spanish Govt. to strengthen Spanish audiovisual industry with 1,5 billion € from Spain Audiovisual Hub's fund

Nadia Calviño, acting First Vice-President of the Government of Spain and Minister of Economic Affaires and Digital Transformation inaugurated on Sunday, September 24, 2023, the conference 'Building an European audiovisual system', within the framework of the 71st edition of the San Sebastián International Film Festival (SSIFF) on the occasion of the Spanish Presidency of the Council of the European Union. She reaffirmed the commitment of the Government of Spain to continue strengthening the audiovisual sector, in which it is planned to invest 1,500 million euros through the Spain Audiovisual Fund, whose creation is being finalized in the second phase of the Recovery, Transformation and Resilience Plan. She noted: "We hope that in the coming weeks the European Commission will give us a positive assessment of the addendum, with which we will create the Spain Audiovisual Hub fund, endowed with 1.5 billion loans managed by the Official Credit Institute (ICO)."

Spain has allocated more than 20 billion euros of Next Generation EU European funds. The panels, organized by the Ministry of Economy and Digital Transformation through the Secretary of State for Telecommunications and Digital Infrastructure, brought together prominent personalities and professionals from the sector, who have delved into the challenges for the construction of a European audiovisual system that is based on collaboration and economic sustainability with the support of the public and private sectors.

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