Brussels, 23 November 2011 – Thousands of people working in cinema, TV, culture, music, performing arts, heritage and related areas would benefit from increased EU support under the new 'Creative Europe' programme unveiled by the European Commission today. With a proposed budget of €1.8 billion for the period 2014-2020, it would be a much-needed boost for the cultural and creative  industries, which are a major source of jobs and growth in Europe. The new programme would allocate more than €900 million in support of the cinema and audiovisual sector (area covered by current MEDIA programme) and almost € 500 million for culture. The Commission is also proposing to allocate more than €210 million for a new financial guarantee facility, which would enable small operators to access up to €1 billion in bank loans, as well as around €60 million in support of policy cooperation and fostering innovative approaches to audience building and new business models.