`Bulgarian Cinema` foundation received a loan worth BGN 33 000 for the equipment of a computer club. The loan will be paid off with the revenues from the club. The loan will be used for the production of documentaries. This is the first loan in Bulgaria extended to a NGO, producing cultural products. `Open Society` foundation financed the program under which the loan was granted. `A considerable part of Bulgaria`s cultural and artistic organizations still depends almost entirely on state subsidies, Alexander Savov, Program Director of the foundation, said. Due to the drastic reduction in the state budget for culture, however, the organizations are forced to look for other sources of financing. `Cultural organizations must be encouraged to develop profitable activities,` Krasimira Teneva from Arts Center `Soros`, commented. According to her this would eventually lead to their self-financing and long-term stability. Three types of loans can be granted under the program. Only NGOs working in the field of arts and culture are allowed to apply for the loans. The credits range from USD 500 to USD 20 000.

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