Saudi Cultural Development Fund Board Holds Its First Meeting

(MENAFN - Saudi Press Agency) Riyadh, March 26, 2021, SPA -- The Board of Directors of the Cultural Development Fund held its first virtual meeting yesterday, chaired by Prince Badr bin Abdullah bin Farhan, Saudi Minister of Culture and Chairman of the Fund's Board of Directors. The Fund's Board of Directors is chaired by Minister of Culture, and includes Hamid bin Mohammed Fayez as member and vice-chairman, as well as Faisal Al-Ibrahim, Sarah Al-Suhaimi, and Bader Abdullah Al-Issa, as members of the board. During the meeting, the board approved the Fund's strategic direction, besides discussing other topics on its agenda, including the proposed organizational structure and operational budget. Prince Badr affirmed that the Fund will promote the development of the cultural sector by catalyzing cultural entities to invest in it, being one of the most powerful engines of economic and social growth, to support the objectives of the National Culture Strategy derived from the Kingdom's Vision 2030. He also expressed appreciation to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman, Crown Prince, Deputy Prime Minister and Minister of Defense, for the generous and unprecedented support aimed at developing the cultural sector. With the support of the Quality of Life Program, one of Saudi Vision 2030 programs, the Fund aims at bolstering private sector enterprises and all bodies and individuals operating in the cultural field by providing diverse programs to develop the sector. Besides providing non-financial advisory services to all parties and individuals working in various cultural fields, the Fund contributes to forming effective strategic partnerships in order to achieve sustainable development and enhance the positive impact on cultural sectors. -- SPA 15:46 LOCAL TIME 12:46 GMT 0023 MENAFN26032021000078011016ID1101816127