The Saudi Cultural Development Fund (CDF) has concluded its participation in the 74th edition of the Berlin International Film Festival “Berlinale”, held from February 15 to 25 in Berlin, Germany, as part of its strategy to enrich and stimulate the growth of a vibrant Saudi film sector.
Throughout its presence at the Saudi Pavilion, alongside other key entities within the Saudi film industry, the Fund had the opportunity to connect with filmmakers, industry professionals, and potential collaborators keen on tapping into the burgeoning Saudi film industry, extending an invitation to the global industry to explore the local Saudi film scene and the vast funding and investment potential in the film sector.
A key highlight of its participation in the festival, the Fund took part in an insightful panel discussion titled "Discover the Cinematic Treasures of the Kingdom,” on February 18, where Faisal Alaseeri, the CDF’s Financing Programs Development Director highlighted the Fund's efforts in providing diverse funding programs and solutions and its remarkable role in mitigating investment risks to encourage private sector participation.
In recent years, the film sector in the Kingdom has been seeing massive growth, supported by the Saudi film system’s financial, investment, and logistical support. Spearheading development initiatives within the sector, the Saudi Cultural Fund boasts one of the largest financing programs aimed at bolstering value-chain activities. Notably, the "Film Sector Financing Program" offers financial liquidity to sector entities at both local and international levels to support content development, film and series production, and distribution. Moreover, the program facilitates investment in the Saudi film sector by establishing investment funds, with the Fund playing a significant role as a major investor.
Earlier this month, MEFIC Capital, in collaboration with Roaa Media Ventures, announced the launch of the Saudi Film Fund, boasting a total capital of SAR 375 million, with a notable 40% investment from the Cultural Development Fund. The initiative aims to empower Saudi Arabia to emerge as a frontrunner in the film industry across the Arab world and the Middle East.
The CDF was established in 2021 as a development fund organizationally linked to the National Development Fund and part of the Quality of Life Program. The fund aims to develop the cultural sector and achieve sustainability by supporting cultural activities and projects, facilitating investment, enhancing the profitability of the sector, and empowering those interested in enhancing their cultural work. The fund also aims to play an active role in achieving the goals of the National Strategy for Culture and the goals of Vision 2030.
