RIYADH: The Saudi Cultural Development Fund has signed five credit facility agreements under its “Cultural Financing” program, totaling over SR63 million ($16.7 million), to finance several cultural projects.
This took place during the Development Finance Conference Momentum 2025, organized by the National Development Fund at the King Abdulaziz International Conference Center in Riyadh.
These facilities aim to support the growth of a distinguished group of cultural projects targeting four sub-sectors: architecture and design, theater and performing arts, music, and visual arts.
These undertakings focus on several areas, including supporting the infrastructure of cultural sectors, such as establishing a music institute and a creative complex, in addition to providing support services and developing national talents and expertise.
It is worth noting that among the projects included in these credit facilities is the “Sifr Creative Group,” an innovative cultural destination that embraces creative individuals and provides a comprehensive environment for production and development.
The complex contributes to strengthening the cultural infrastructure through an integrated system that supports creative work and programs dedicated to empowering talent and the sector, serving as a platform that enriches the cultural landscape and opens broader horizons for innovation and local production
The Cultural Development Fund signed these credit facilities as part of its role as a center for financial empowerment in the cultural sector. The initiative supports micro, small, and medium enterprises to help diversify the national economy, develop cultural talent, and enhance quality of life in line with the Kingdom’s Vision 2030 and the Sustainable Development Goals.
The signing of these credit facilities by the Cultural Development Fund comes within its role as a center of excellence and financial empowerment in the cultural sector. This initiative also forms part of the fund’s broader efforts to support micro, small, and medium enterprises, to enhance their role in diversifying the national economy, developing cultural talent, and raising the quality of life; contributing to achieving the Sustainable Development Goals under the umbrella of the Kingdom’s Vision 2030.
