Rio de Janeiro state launches movie fund

Xinhua News Agency | September 24, 2009 | Copyright

RIO DE JANEIRO, Sept. 23 (Xinhua) -- Rio de Janeiro state and city governments signed an agreement Wednesday to create a fund to finance the movie industry.

The agreement came one day before the opening of the Rio de Janeiro International Film Festival 2009, which will be held until Oct. 8. The festival is one of the most important in Latin America.

The so-called Fund for the Financing of the National Movie Industry (Funcine-Rio) will start with 18 million reais (10 million U.S. dollars), and authorities estimate it may have 50 million reais in the ...

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