RIGA: Latvia will provide 300,00 Lats (426, 864 EUR) for foreign film production taking place in Latvia.
According to the Baltic Times, the request was made by the Latvian Ministry of Culture and the funds will come from the country’s emergency budget. Distribution of the funds will be handled through the National Film Centre (NFC), which will hold a competition for funding. Films must at least partially shot in Latvia and have a Latvian registered partner. The Latvian Cabinet of Ministers had approved the initiative to fund foreign production in 2012, and the issue will be discussed in 2014 as part of the country’s annual budget.
Ilze Gailite-Holmberga, Director of the NFC, said, “The creation of a new foreign film industry finance attraction mechanism will improve the competitiveness of Latvia’s film industry, as well as increase Latvia’s recognition around the world. Foreign film producers come to Latvia, see our nature and architectural variety, meet with local filmmakers and return here to shoot films. Producers from Japan, Korea, India, Russia and other countries have come to Latvia several times to produce films. In the Baltics, Latvia will be the only country to have a state co-financing foundation. It will undoubtedly attract some serious foreign projects.”
International productions were estimated to have spent some 5 m Lats in Latvia in 2012.