Saudi Arabia

Saudi Arabia announces finance program to boost film sector

The Cultural Development Fund (CDF) announced on Wednesday its “Film Sector Financing Program” which aims to enhance the Saudi film sector’s infrastructure and boost its production with a budget of SR879 million.

The program’s financing packages are aimed at production and distribution companies as well as all private sector establishments which are working in the film industry and will enhance competitiveness in the sector.

The budget was divided into two parts — 70% of it will be allocated to developing, producing and distributing content, and 30% to developing the sector’s infrastructure. The ministry will open the door for funding application later in 2022.

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Source
Saudi Gazette
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