Riyadh: Saudi Arabia has announced a $234 million fund for the film financing program. The announcement of the fund was made at the ‘Ignite the Scene’ event by the Saudi Cultural Development Fund. The film financing program is an initiative of the Ignite Digital Content Program. It is estimated that the said program is helpful for the Saudi film sector and the promotion of digital contents.
Ignite Scene is organized by the Saudi Ministry of Communications and Information Technology. Ignite Scene will be organized till March 18. The announcement of the fund aims to find solutions to the financial problems of the companies working in the film sector by partnering with strategic financial institutions in the country.
By announcing the fund, the aim is to create financial stability for the projects in the film sector in the country. Ignite The Scene attracts people from the country’s film and media industry. The program will also provide an opportunity to learn regarding the future activities of the film industry.
STORY HIGHLIGHTS: Saudi Arabia announces $234 million fund for film financing program