RIYADH: The Cultural Development Fund, a vital financial engine for Saudi Arabia’s culture sector, along with partners from the Kingdom’s film industry, are presenting film financing and investment opportunities at the 77th annual Cannes International Film Festival, held from May 14 to 25.
The fund is present at the festival for the third year, in line with its mission of nurturing the domestic film scene and strengthening its role as a key enabler of cultural growth.
The fund highlights its Film Sector Financing Program at the Saudi pavilion, led by the Film Commission. The program offers comprehensive financial packages that support the entire filmmaking process, from creation and production to distribution, for both local and foreign companies working on film and TV series in Saudi Arabia.
It also provides an opportunity for companies and investment funds to participate in the Kingdom’s film industry and contribute to its development.
Its participation in the Cannes event aligns with its continuous efforts to attract filmmakers and investment.
The fund aims to be a leader in the Saudi film industry and collaborates with other stakeholders to build a sustainable film sector that contributes to the national gross domestic product.
Established under the National Development Fund in 2021, the fund aims to invigorate Saudi Arabia’s cultural scene. By supporting a range of cultural endeavors and facilitating investment, the fund fosters a thriving domestic cultural sector, aligning with the National Culture Strategy and Saudi Vision 2030.
