Russia reveals more film fund detail

One-quarter of budget earmarked for producers

MOSCOW -- Russia's culture ministry revealed details of its new plan for state financing of the local film industry Thursday.

Refuting reports that the entire yearly budget of 4 billion roubles ($160 million) will go to the biggest producers, deputy culture minister Alexander Golutva told a board meeting of the Russian producer guild Thursday that the largest producers will receive only 1 billion roubles ($40 million) each year, with the rest going to individual projects.

The new financing scheme is scheduled to take effect in 2009.
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