The City of Riga has launched the Riga Film Fund in order to attract foreign film productions with its first call for films on March 5.
The co-financing programme of Riga Film Fund is open to Latvian and foreign productions planning to shoot in Riga. The fund was founded to encourage foreign investments in Riga, create new jobs, develop the Latvian film industry and promote Riga internationally. Up to 15% of film related expenditure in Riga can be obtained as cash rebate when filming is completed.
Launching of the co-finance programme enables Latvia to be competitive among Baltic States and places it alongside other European countries with similar funds. The establishment of Riga Film Fund was initiated by the National Film Centre in cooperation with Latvian film producers.
The eligible costs of the programme include transport, rental of premises and technical equipment, accommodation, public facilities, construction facilities, artistic and administrative work, thereby encouraging foreign film crews to live and work in Riga.
Riga Film Fund will organize calls up to four times a year and projects will be evaluated by the commission consisting of five experts. Applications for the first competition are due April 6, 2010.
"Establishing the Riga Film Fund is a strong stimulus for development of Latvian film industry, and especially important in a time when the production amount of local studios is decreasing due to the budget cuts for the film industry," says Ilze Gailite Holmberg, the Managing Director of the National Film Centre of Latvia.