Ancine will use the funds to support theaters that are affected by the pandemic

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The Ancine (National Cinema agency) approved, on Wednesday (22), and loans for the theaters and companies in the audiovisual and economically affected by the quarantining of coronavirus. In addition to the use of the resources of the Audiovisual Sector fundthe Agency will also create a line-of-credit The BNDES National bank for Development (via Folha de S. Paulo).

The loans that are provided by Ancine, which can reach up to a value of $ 400 millionhave it as a goal to maintain the working capital of the companies in the sector, which have had the doors of the shops all over Brazil, closed in mid-march.

In addition, the brazilian development bank will also suspend the collection of the installments of debts that are made by these companies prior to the period of the quarantine, the COVID-19. Already, exhibitors from a small size to have access to non-reimbursable resources from the Audiovisual Sector Fund.

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