Magazine article Screen International

Icelandic Government Confirms New Funding for Film

Magazine article Screen International

Icelandic Government Confirms New Funding for Film

Article excerpt

After cutting public funding of Icelandic cinema by 35% in the last two years, due to the financial crisis, the Icelandic Ministries of Culture and Finance have now signed a new agreement with the industry outlining a 62% increase of state support from now till 2015, when it will amount to $5.7 million (ISK 700 million).

"$5.7 million was what we were supposed to have for 2010, so with the same money after a five-year delay - and a 50% devaluation after the crash - we will still run on tight budgets," said managing director Laufey Guðjónsdóttir, of the Icelandic Film Centre. "However, the Icelandic economy is still difficult, so it was probably the best result we could hope for. And Icelandic filmmakers are used to working with low budgets, and they have before delivered good films despite limited resources."

"What's important about the agreement is that we now have a framework - we know approximately what we have on the table in the next couple of years. …

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