Luxembourg, 14/07/2003 (Agence Europe) - The European Investment Bank (EIB) has renewed two agreements worth EUR 20 million each with Natexis Coficiné SA and Cofiloisirs SA for the co-funding of investment relating to the production and distribution of films and audiovisual works in France and in other EC countries. The two conventions come in the wake of two similar operations set in place in November 2001, which led to joint financing by the EIB and the two establishments in question of around thirty European productions (films, telefilms and televised series), for which the production estimate amounts to almost EUR 260 million. Many projects financed result from co-productions that bring together contributors from several EU countries, distributed at European level and even outside the EU. The EIB considers the implementation of the first two agreements, which have practically exhausted their total of EUR 40 million available, illustrates the relevance of the mechanism set in place in 2001 in order to promote the creation of European-scale audiovisual projects. This kind of co-financing presents the advantage, on one hand, of an increase in EIB financing capacity of Natexis Coficiné and Cofiloisirs and, on the other hand, of risk sharing with the EIB. This combined effect contributes to palliating the lack of resources confronting the audiovisual sectors for pan-European projects and to facilitate companies' access to funding, especially independent producers. As in 2001, the signatories of these new conventions foresee promoting the financing of an almost identical number of cinematographic and audiovisual works using the expertise of Natexis Coficiné and Cofiloisirs as a base. The latter two companies will, as for the first operation, be the interlocutors for the companies benefiting from this mechanism. Within this framework, they will proceed to assessing projects, subject to EIB agreement, and will take on the responsibilities for concluding and following up financing contracts.