Innovative Financing Initiative for Culture (IFIC)

European Union
European Commission’s DG for International Partnerships
Describe the main features of the policy/measure: 
Specific objectives are: • Improve access to finance for MSMEs and organisations from the culture and creative sectors, in particular those led by women and vulnerable groups. • Increase the value, quality and quantity of cultural goods and services in target countries. HEVA Fund’ activities include: • Selection of cultural and creative entrepreneurs to be financed • Technical assistance: (i) to the applicants and (ii) ecosystem capacity support. • Advocacy and support to public policies in favor of the CCI sector. Several studies on the impact of the COVID-19 pandemic in the CCI sector will be also published. Ciné Guimbi Cultural Hub’s activities include: • Restoration of the historic Guimbi cinema (movie theatre of 174 seats, restaurant, offices). • Incubator program in partnership with local entrepreneurs • Cultural activities (promotion of African cinema through screenings) • Capacity building programs to the sector professionals • Image education activities with local schools and youth organizations.
What are the results achieved so far through the implementation of the policy/measure?: 
The project started in January 2020. The action is already supporting 31 cultural operators, in the cultural and creative industries. CCI surveys were carried out in 5 East African countries. The Cine-Guimbi hosted 3 cultural and creative activities.
Financial resources allocated to the policy/measure in USD: 
1.8 Million USD
Partner(s) engaged in the implementation of the measure: 
Name of partnerType of entity
Agence Francaise de Developpement
Private Sector
Private Sector
Cine Guimbi Cultural Hub managed by the Association de Soutien du Cinema au Burkina Faso
Private Sector
Has the implementation of the policy/measure been evaluated?: 
Goal(s) of UNESCO's 2005 Convention
Cultural Domain(s)