On Thursday, January 31, BNDES and the National Cinema Agency (ANCINE) released a new line of credit, in the amount of R$ 146 million, designed to accelerate the process of installing digital upgrades in Brazilian movie theaters.  

The announcement was made by the Minister of Culture, Marta Suplicy, the President of ANCINE, Manoel Rangel, and BNDES Director of Industry, Julio Ramundo, at a ceremony in the Sala Funarte in Rio de Janeiro.

The new line is one of the four pillars of the Cinema Near You Program (PCPV) which operates through funding from the Audiovisual Sector Fund (FSA) with BNDES as financial agent.

The goal of the Ministry of Culture and ANCINE is to install digital technology in 1,400 theaters within an 18-month period. The current dynamics of the film industry indicate that a full transition to the digital model will take place over the next two years, removing the need to distribute physical copies on film.  

Source: BNDES

05 February 2013