Ashraf AboArafe
The Cultural Fund is participating in the 77th session of the Cannes International Film Festival, held from May 14 to 25, alongside the film sector system in the Kingdom, in order to review the financing and investment opportunities available in the Saudi film sector, within the framework of the Fund’s role as a major financial enabler for the cultural sector. And its vital role in developing the film sector.
The Fund was present in the Saudi pavilion participating under the leadership of the Film Authority within the festival’s activities to shed light on the “Film Sector Financing Program,” which aims to develop all value chain activities in the sector by providing integrated financing packages to support the needs of local and international establishments working in content development, production and distribution of films and series in the region. Kingdom. The program also provides the opportunity for companies and investment funds to invest in the promising Saudi film sector and contribute to its development.
This comes as part of the ongoing efforts to attract filmmakers and stimulate investment in the sector, as the Fund plays a major role in integrating with entities in the film system in the Kingdom to develop and sustain the sector in a way that contributes to enhancing the economic impact on the domestic product.
It is noteworthy that the Cultural Fund was established in 2021 AD, as a development fund that is organizationally linked to the National Development Fund, with the aim of developing the cultural sector and achieving sustainability by supporting cultural activities and projects, and to facilitate investment in cultural activities and enhance the profitability of the sector, and to enable those interested to advance their cultural works, and for the Fund to have an effective role in Achieving the goals of the National Culture Strategy and the goals of the Kingdom’s Vision 2030.
