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Latvia Raises Cash Rebate Budgets and Adds €7,5 million Funding To Celebrate Centennial Featured

2015-05-17

CANNES: Following its successful turn as last year’s EFA host, Latvia continues the momentum by raising the budgets for their international co-production rebates.

Having organized a range of industry events leading up to the EFA awards ceremony, including workshops, coproduction panels and bringing international producers and press to Riga, the National Film Centre of Latvia has noted an increased awareness with the country’s politicians and key decision makers, leading to increased budgets for the industry.

As Dita Rietuma, the head of the National Film Centre of Latvia notes, “Our EFA events also helped establish the Latvian industry as being perceived as part of European film culture. As a result, it made Latvia’s politicians more aware of the needs of our film industry.”

This year’s cash rebate budget of the National Film Centre for €996,000 will be raised to €1,2 million euros next year. Riga Film Fund’s budget for cash rebates this year is €1.140.000.

An additional boost to the local industry comes in the shape of Latvia100, an initiative by the National Film Centre of Latvia and the Latvian Producers’ Association to celebrate the country’s 100 years of independence in 2018 with twelve especially commissioned feature-length films, playing up to the country’s traditional strength in documentaries and animation: five features, six documentaries and one animation film. The total budget for Latvia100 is €7,5 million.

Both funding bodies are announcing the results of their most recent tenders. The National Film Centre of Latvia is supporting the following four international co-productions, with one more deadline for projects in August to follow.

-       OUT (Film Angels Production (Latvia) and Sentimental Films, Slovakia). Co-financing (NFC) - €91,852.

-       FISHBOY (Ego Media, LV, and Trikita Entertainment OOO (Russia). Co-financing (NFC) – €94.775. 

-       TRAITOR (Infinity Film, LV and Hennisko LP (UK) Co-financing €113,816 (NFC).

-       TACTIC WISDOM (Sun & Moon Pictures Intl., LV and Periferia Productions OY, Finland). Co-financing NFC ­- €103 651.

As per its April 30 decisions, Riga Film Fund is supporting the following four projects:

-       OUT, cofinancing rate 10%, up to €34,531 in local spend

-      MAGIC KIMONO (Krukfilms, LV, OREE Estonia, Loaded Japan) cofinancing rate 20, up to €240,917 in local spend.

-      EIGHT LAST DATES (Infinity Films, LV, Green Films, Russia) with co-financing rate 10% - up to €70,488 of local spend.

-       FORGOTTEN FABLES OF HOLLYWOOD (Infinity Films LV, Digital Slave Productions, (USA), with co-financing rate 10% - up to €86.484 of local spend.

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