Indonesian Culture Minister Nadiem Makarim Launches $13 Million Annual Film Grant, Reveals BiFan, Udine Agreements (EXCLUSIVE)

variety.com:

Naman Ramachandran Nadiem Makarim, Indonesia’s minister of education, culture, research and technology, is set to launch an annual $13 million film grant at the Cannes Film Festival.

This is the first government-funded film grant from Indonesia. It is sourced from the country’s National Cultural Endowment Fund.

The 1:1 matching grant scheme from the Ministry of Education, Culture, Research and Technology is designed to promote international cooperations between filmmakers and is open for international co-production projects with Indonesia and for story development and research, production, post-production or internal promotion and distribution incentives. “We expect this endowment fund to keep hopefully doubling every year, so we’ve allocated around close to $13 million.

The interest from that [endowment fund] on an annual basis is about $13 million. So we plan to exponentially increase this over time.