Ukrainian cinema industry to get huge funding increase

If passed, Ukraine’s new Cinema Law is set to provide the State Film Agency with a huge cash injection, in addition to the introduction of a cash rebate scheme from 2017.

According to Philip Illienko, the head of the Ukrainian State Film Agency, the proposed law has already passed its first reading in country’s parliament and is expected to be finally adopted following a second reading in the autumn.

“The provisions [of the new law] will be revolutionary for our industry and we will say goodbye to many Soviet elements which have still existed [in the film funding legislation],” Mr Illienko explained, speaking at the Odessa International Film Festival’s Film Industry Office last week.

In its current state, the draft law provides the Film Agency with financial support equal to 0.2% of Ukraine’s state budget from 2017, equating to $55.2m, a significant increase from the Film Agency’s current annual budget of $11m. The Film Agency’s funding is also to broaden to include support for building cinemas in smaller towns.

Next year will likely also see Ukraine offer cash rebates to foreign productions shooting within the country, with the Film Agency hoping to offer a 25% rebate to foreign producers on their spending.

These developments bring hope and expectation for further acclaim for Ukrainian film, following in the footsteps as such films as Myroslav Slaboshpytskiy’s sign-language drama The Tribe, which won the grand prize at Critics Week at Cannes Film Festival in 2014.

Source: Screen Daily