Berlin, March 18 (IANS) The German government has approved a 55 per cent increase in its film fund to 150 million euros ($161 million).
Chancellor Angela Merkel's cabinet on Wednesday authorised a 50 million euro ($53.7 million) boost in the country's German Federal Film Fund (DFFF) for 2018 to 125 million euros ($134 million) as well as 3 million euros ($3.22 million) more for a separate culture film fundi for smaller projects to 25 million euros ($26.8 million), reports variety.com.
The increase follows a recent hike in this year's DFFF pot of 25 million euros ($26.8 million) for a separate funding pool within the DFFF aimed specifically at international co-productions and big-budget domestic films.
Next year, this second funding pool, dubbed DFFF II, will grow to 75 million euros ($80.5 million).
German culture and media commissioner Monika Grütters has also said she would seek more funding for local VFX companies - a move that would likely increase the number of international projects coming to Germany, which boasts a large number of leading firms in the field.