22-02-2016

Latvia to Launch Co-financing Fund

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RIGA: National Film Centre of Latvia will grant 946,010 EUR in 2016 through the newly established Co-financing Fund, aiming to attract foreign financing for Latvian film industry and to promote industrial competitiveness and professional development.

latviaThe final deadline for co-financing is 15 November 2016. In order to apply for a tender a cooperation agreement between a local coproduction partner and a foreign film production company has to be signed.

A cash rebate plan is in place for the total eligible expenses. In case of a coproduction between Latvian and foreign producers the Latvian producer's investment must not exceed 20% of the film's total budget. The co-financing grant may be cumulated with Riga Film Fund grant, if not exceeding 25 % of public funding for a project.

Gradual increase of the financial support for the Latvian film industry is planned in the following years. The annual state support for Latvian film industry in 2015 is 5.4 m Eur.