Pinewood Indomina Studios has announced the signing of an alliance with the World Bank’s International Finance Corporation (IFC) to provide US$30 million in funding for filmmaking in the Dominican Republic. Antonio Gennari of Pinewood Indomina says that the funds will be available in the next five years to help finance 50 international films that are projected to generate direct and indirect revenues of no less than RD$40 billion, create 5,000 jobs and raise taxes for the government for around RD$5 billion. The funds will be used to back movie studio operations in the Dominican Republic and train technical resources and professionals who will be needed for the consolidation of the movie industry in the Dominican Republic.
www.listin.com.do/economia-y-negocios/2013/4/23/274421/IFC-aportara-US30-MMa-industria-del-cine-local