Governmental Financial Aid for Cinema

English Section / 11 decembrie 2023

Governmental Financial Aid for Cinema

Versiunea în limba română

Good films are made with money. Without funds, not even mediocre ones can be produced, at most some longer clips on social networks. The government has approved financial assistance for the film industry amounting to over 200 million euros. The legislative act includes several conditions, with an estimated total number of 150 beneficiaries under the scheme. In its recent meeting, the government adopted the procedure for managing and verifying the projects, concluding financing agreements, and making payments related to the state aid scheme for supporting the film industry by the Film and Cultural Investments Office. This also involves amending and completing Government Decision no. 421/2018, instituting a state aid scheme to support the film industry. This legislative act represents the final step required to complete the procedure that will allow the state to settle its debts to producers who have successfully applied to the support scheme for the production of audiovisual works in previous years, while also encouraging investments in this field in the coming period. Minister Raluca Turcan stated, "The support program for the film industry established in 2018 ran for three years, attracting a total of 138 projects, of which 86 projects were approved, totaling 101 million euros, without the provider developing a procedure for settling these projects. In fact, until today, Romania was the only country in the European Union that did not implement a program to attract investments in the production of audiovisual works, even though numerous producers from European countries and the United States expressed their intention to produce films and series in Romania in 2024, with total budgets exceeding 200 million euros. Through the legislative act adopted today, we respond to the legitimate expectations of the film industry from two points of view: firstly, by honoring the obligations assumed by the state and not paid for almost four years, and secondly, by stimulating audiovisual productions, i.e., investments made in Romania."

The state aid granted under the scheme consists of: non-repayable financial reimbursements of 35% of the total eligible expenses incurred in Romania for the acquisition, rental, manufacturing of goods, and/or services related to the production of an eligible audiovisual work, as well as fees, salaries, and other payments to individuals related to the project's implementation in Romania; non-repayable financial reimbursements of 10% above the previously mentioned amount, provided that the audiovisual production promotes a geographical area, a city, or Romania, the tourist destinations and objectives of Romania in the promoted geographical area or city, or the Romanian language, traditions, and customs in the same audiovisual production, and the subject matter is explicitly visualized.

The annual maximum budget of the scheme is 233 million lei, equivalent to approximately 46.86 million euros, and the maximum value of state aid cannot exceed 10 million euros for each funded project. Next year's session will ensure a more efficient allocation of funds and maximize the level of investment attraction.

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