Riyadh, May 11, 2023: The Cultural Development Fund (CDF) participated as a sponsor at the ninth edition of the Saudi Film Festival held in Dhahran from 4 to 11 May, 2023. The Festival was organized by the Saudi Cinema Association in partnership with the King Abdulaziz Center for World Culture (Ithra) and with the support of the Film Commission.
As part of the festival's activities, Fatima Al-Babtain, Business Development Manager at CDF, shared her insights as part of a panel session titled "Financing the Film Sector in Saudi Arabia." She delved into the Fund's role as a major financial enabler for the 16 cultural sectors identified by the Ministry of Culture under the National Culture Strategy by supporting cultural projects, facilitating sector’s investment, and enhancing the sector's profitability.
Al-Babtain went on to shed light on the fund’s latest offerings “the Film Sector Financing Program” and its incentives to promote the growth of the industry. She also addressed the importance of collaborative partnerships the fund establishes with other film sector’s enabling entities and funds to complement their offerings, enabling creators to experience a stimulating environment that contributes to the development of the sector.
The Fund's pavilion at the Production Market exhibition welcomed a large number of visitors, distinguished artists, content creators, and other key participants from across Saudi Arabia and other Gulf and Arab countries. They learned more about the Fund's role in the development and prosperity of the film industry through the Film Sector Financing Program.
During the closing ceremony of the Production Market, CDF was honored as the sponsor of the festival in the presence of the CEO of the Film Commission, Abdullah Al Ayyaf Al-Qahtani, along with the Director of Ithra, Eng. Abdullah Al-Rashed, and the Director of the Saudi Film Festival, Ahmed Al-Mulla.
Furthermore, the Fund launched a lending stream, last March, as part of the Film Sector Financing Program, which was designed to provide financing packages through its financial institution partners. These packages cover the financial needs of SME’s and projects operating within the film sector in the country. The Program also supports long and short films, and TV series, and it targets companies across the value chain of the film sector: pre-production, production, post-production, distribution activities, infrastructure and support facilities.
