CANNES: The Saudi Cultural Development Fund has announced an investment in the movie industry at the annual Cannes Film Festival.
The launch of the first Film Investment Fund for local and international investors came in the wake of an announcement of an $80 million budget to champion local talent, development and production.
The CDF has now partnered with MEFIC Capital and holding company ROAA Media Ventures to establish the Film Investment Fund, budgeted at $100 million.
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