30 Mar 2010

On March 5, Riga City Council has announced the Riga Film Fund, a co-financing initiative aiming to encourage foreign investments in the Latvian capital.  The Fund budget is allocated by the Council and consists in a cash refund of 15% of film-related expenditures in the city. The Film Fund will open 4 calls per year with the first deadline on 6 April.

The Latvian Filmmakers Union welcomes the initiative which may boost the film production  sector in the country and provide additional job opportunities for film professionals. It is particularly important in times of economic crisis when the State support for film industry has been cut by 42%.