EC grants EUR 80.68 million to support local cinema production

The European Commission has approved a EUR 80.68 million scheme to support cinema production in Romania, the development of the local cinema industry, and the education about cinematography. The scheme consists of a series of interest-free loans and non-refundable grants to produce Romanian films, or films produced with Romanian participation. Within the scheme, producers are allowed to spend up to 20 percent of the film’s budget with the European Economic Space SEE, not just in Romania. Romanian authorities plan to maintain the scheme until the end of 2014.