Cultural Development Fund
| Formation | April 2019 |
|---|---|
| Type | Governmental, Cultural |
| Purpose | Financially support local talent. Promoting local content. |
| Headquarters | Riyadh |
Region | Saudi Arabia |
CEO | Mr. Mohammed bin Abdulrahman bin Dayel |
| Website | https://cdf.gov.sa |
The Cultural Development Fund was founded by Royal Decree No. M/45, issued on January 6, 2021, as a development fund that is organizationally linked to the National Development Fund.
The fund was established as part of the Quality of Life Program initiatives to enhance cultural sector sustainability by supporting cultural activities, facilitating cultural investment, and improving sector profitability. [1]
Objectives[edit]
The Fund will focus on supporting the 16 cultural sectors that have been identified within the National Culture Strategy through development programs with different financing mechanisms, designed to enable the cultural sector in various fields, such as content industry and development, education and training, infrastructure support, distribution, marketing of cultural outputs, operating Cultural facilities, enabling digital transformation in the cultural sector. In addition to the investment programs that the Fund intends to design to increase the cultural sector's contribution to the Kingdom's economy. The Fund will also provide non- financial advisory services to all entities and individuals working in the various cultural fields.
The Fund will also seek to activate the role of small and medium enterprises in the cultural sector besides forming effective strategic partnerships with several bodies in the governmental, private and non-profit sectors, aiming to achieve sustainable development and enhance the positive impact on the cultural industry and its practitioners to benefit the Kingdom's economy and the public interest.
The Fund will contribute to enhancing Saudi cultural production and achieving economic development opportunities, which will lead to the development of the cultural scene and raise the level of appreciation of national culture locally and globally. [1]
References[edit]
- ↑ 1.0 1.1 الثقافي, صندوق التنمية. "صندوق التنمية الثقافي". cdf.gov.sa (in العربية). Retrieved 2022-03-03.
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