Saudi culture minister lauds Cabinet approval of Cultural Development Fund

RIYADH: Saudi Culture Minister Prince Badr bin Abdullah bin Farhan expressed his thanks and appreciation to King Salman and Crown Prince Mohammed bin Salman for  supporting cultural sectors, commending the Cabinet’s decision to approve the establishment of the Cultural Development Fund (CDF).

“The fund will promote the Saudi cultural production and provide economic and developmental opportunities to support and empower national cadres in various cultural sectors, which will positively reflect on the cultural scene full of creative people,” he said.

The minister noted that “the fund, which is administratively linked to the National Development Fund (NDF), aims to contribute to supporting cultural development, its relevant fields and their sustainability in accordance with the strategies adopted in this regard.”

He said: “The fund will have the authority, in accordance with its policies, to lend and finance enterprises, associations and civil society institutions working in the cultural field, support people operating in the field, take part in the services related to the field, develop the technologies required for the field’s infrastructure projects and provide nonfinancial advisory services to all bodies and individuals operating in various cultural fields.”

“CDF comes within the Quality of Life Program, which is one of the programs of the Kingdom’s Vision 2030, and is among the 27 first projects announced by the ministry with the launch of its vision and objectives,” he noted.

Prince Badr chairs CDF’s board, while the fund has a legal personality and enjoys a financial and administrative independence in order to support the objectives of the National Culture Strategy derived from the Kingdom’s Vision 2030, through which the Culture Ministry seeks to improve cultural and national heritage-related actions.