[WATCH] Government to initiate talks with banks to help businesses enter film industry

The government will be initiating talks with banks in order to help local businesses and individuals access financial instruments to invest in better technology and equipment.

“There is a gap which needs to be bridged, and we want to be part of the solution to help local film businesses secure financing from banks at a lower cost in order for them to invest more,” Film Commissioner Johann Grech said.

Grech was speaking during the launch of the Mediterrane Film Festival, which will take place in Malta for the first time in June from the 25 to 30 June.

The festival will be a collaboration between nine Mediterranean countries: France, Italy, Spain, Portugal, Greece, Cyprus, Slovenia, Croatia, and Malta.

Grech explained how the festival is expected to attract international film producers, studio officials, directors, and representatives from the Mediterrane Film Commission, the British Film Commission, and Hollywood Studios.

In comments to MaltaToday, Tourism Minister Clayton Bartolo said the government is working to incentivise support for the industry by helping investors apply for local and European funds.

The support in investment is one of the four pillars in government’s roadmap for the film industry.

The other three pillars are Sure Start, MaltaCreate, and more job opportunities.

Sure Start, with an investment of half a million Euro, will provide education and training to young children, with the hope of attracting them to the industry. This will include a summer film camp called ‘It’s Time for Movies’.

MaltaCreate, at an investment of €100,000, will provide the opportunity for beginners by providing them with resources to produce short films.

“We want to encourage young people, or beginners, to take the first step into the industry,” Bartolo said.