President of Barbados Film & Video Association Jamal Slocombe is proposing Barbados introduce a Film Revolving Loan Programme.
Slocombe supported his recommendation by stating: “Countries with active film-revolving loan programmes have realized significant benefits in terms of economic growth, job creation, and cultural development. These programmes provide the necessary capital to support the production and distribution of films, which in turn creates jobs and drives economic activity. In addition, films are a powerful medium for cultural expression, and the development of a vibrant film industry can help to promote a country’s unique cultural identity and heritage.”
The media executive and well-known cultural practitioner added: “In France, the Centre National du Cinéma et de l’Image Animée (CNC) provides funding for the development, production, and distribution of films through its revolving loan programme. This programme has been instrumental in supporting the growth of the French film industry, which is now one of the most successful in the world. The programme has also helped to create jobs and stimulate economic activity in the country.”
He went on to give similar examples in South Korea stating: “Similarly, in South Korea, the Korean Film Council (KOFIC) provides funding for the development, production, and distribution of films through its revolving loan programme. This programme has helped to support the growth of the Korean film industry, which has become a major cultural export for the country. The programme has also helped to create jobs and stimulate economic activity in the country.”
In conclusion, Slocombe reinforces: “The introduction of a film-revolving loan programme can be an effective strategy to support the growth and development of a country’s film industry. By providing the necessary capital to support the development, production, and distribution of films, these programmes can create jobs, drive economic activity, and promote cultural expression and development.” (PR)
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