The financing of the cinema industry will reach 7.5 million euros in 2025

Co-financing cannot exceed 30% of the eligible costs of the new foreign film project and 20% of the relevant costs for organizing the new main events. Measures to increase funding must be approved by the Budget and Finance (Tax) Commission of the Saeima.

The offer aims to provide stable and predictable funding for the development of the cinema industry and the attraction of new foreign cinema projects. According to the offer in 2025 financing it will reach 7.5 million euros and there is a growing trend, providing funding available in the amount of 7.9 million euros in 2026 and 8.3 million euros in 2027.

During the meeting, an agreement was reached to provide the necessary support to the industry and to implement measures, that EM and LIAA should develop a procedure for granting joint financing from the state budget for the shooting of foreign films in Latvia. On the other hand, producers must work to improve the justification of the costs that can be declared.

Jānis Kalējs, representative of the Association of Latvian Film Service Producers, said after the meeting that the industry is satisfied with the solution reached and now feels that it will be heard. The solutions that have been achieved are only those recommended by the industry, Kalējs said.

He pointed out that the percentage of co-financing – 30% – is equal to the level of neighboring countries, so currently the Latvian cinema industry will be competitive in the region and will be able to attract large foreign projects. attraction

“Now the part of the co-financing is clearly defined, and we can tell foreign partners that yes, there is 30%, go and film,” said Kalējs. He said that the question was not about co-financing so far resolved, and so far the Latvian side could not explain to foreigners.

Kalējs said that the producers already have some projects that they would like to film in Latvia, and that they are always looking for new ones. In this process, the rules that were not clear until now had to be explained, said Kalējs.