Saudi Arabia city Riyadh city Jeddah film information economy Digital google Provident Enterprise Saudi Arabia city Riyadh city Jeddah

Saudi Arabia Officially Launches $233m Film Sector Financing Program Aimed At Local & Int’l Companies

Reading now: 605
deadline.com

Saudi Cultural Development Fund (CDF) has officially launched its Film Sector Financing Program (FSFP) offering financial support to local and international film companies that want to get involved in the country’s burgeoning cinema industry.

The initiative, with a portfolio of $233m (879m Saudi Riyal), was first unveiled in early 2022, as part of the country’s $1.1 billion IGNITE Digital Content Program, and then teased again during the Red Sea International Film Festival in Jeddah last December.

The program officially launched against the backdrop of the film-focused the Ignite the Scene event in Riyadh last week, organized by the Saudi Ministry of Communications and Information Technology.

The CDF said in a release that the initiative is open to local and international companies and that its aim is to support the growth of a sustainable local film industry, by empowering the private sector with financing packages that support local content and promote filmmaking.

Read more on deadline.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA