“Our aim is to continue consolidating and establishing very strong bases so that investments made see a return. We hope to bring to the market a large level of funds to continue supporting the industry,” added Cristina Morales, deputy director general of Audiovisual Communication Services at Spain’s Ministry of Economic Affairs and Digital Transformation, who moderated the session’s main panel. “The Spain AVS Hub Plan does not depend only on NextGenerationEU. The Spanish government is currently in conversations with the European Commission, the E.U.’s executive arm, for a €425 million ($454.75 million) loan facility, known as the Spain Audiovisual Hub Fund, which would figure in the addendum to the Recuperation Plan, she added.
Of the original €1.6 billion Spain AVS Hub budget, €1.2 billion has been assigned, María González Veracruz, Spain’s secretary of state for telecommunications and digital infrastructures, announced Tuesday in a keynote speech opening a session dedicated to Two Years of Stimulus for the Audiovisual Sector, Impact and Challenges.
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