Saudi Arabia's CDF unveils major film financing framework at Cannes
During the event, CDF announced a significant expansion of its role in supporting film projects, introducing a comprehensive financial excellence framework.
Saudi Arabia's Cultural Development Fund (CDF), the Kingdom's key financial engine for the cultural sector, hosted a high-profile roundtable and networking lunch at the 78th Cannes Film Festival, bringing together global industry leaders, studio executives, filmmakers, producers and financiers. The event, titled Collaborate and Invest: Shaping the Future of the Film Industry, served as a platform to explore financing strategies that support sustainable growth and promote international collaboration, in line with Saudi Arabia's ambition to become a global hub for filmmaking.
During the gathering, CDF announced a significant expansion of its support for the film industry, introducing a new financial excellence framework designed to streamline funding processes and improve access across the entire film value chain. Developed in partnership with stakeholders in the Saudi film ecosystem, the framework aims to reduce processing times for successful funding applications by 60% and enhance overall transparency and efficiency.
Key elements of the initiative include clear eligibility criteria, a well-defined evaluation process to guide funding decisions, and a fully integrated digital system for managing applications—from submission to tracking and approval. These changes aim to simplify the funding journey for filmmakers and industry professionals while ensuring fair and consistent decision-making.
This announcement underscores CDF's commitment to accelerating the growth of Saudi Arabia's film sector in alignment with Vision 2030's broader goals of economic diversification and cultural development. By reinforcing the infrastructure for film financing and positioning the Kingdom as a globally connected, investor-friendly market for creative content, the Cultural Development Fund is laying the groundwork for Saudi Arabia to emerge as a major player on the international film stage.
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