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The Chairman of the General Entertainment Authority, Advisor Turki Al-Sheikh, revealed the mechanism for requesting funding for investment opportunities in the entertainment sector, the agreement of which was signed between the Authority and the Bank. of social development.
He explained in a telephone interview on Al-Arabiya channel today (Wednesday) that the agreement includes funding of up to 10 million riyals per project, if the conditions are met, stressing that the priority in the financing of projects will be in line with market needs and innovative ideas.
He stressed that the entertainment sector will be among the sectors competing with real estate, stocks and others, and will be a source of income for the Saudi citizen and investment in the Kingdom.
He pointed out that the 20 initiatives that were chosen from 12,000 ideas are funded, and 8 of them are currently in place, and the implementation of the remaining 12 will be completed in the first quarter of next year 2022.
Head of the Entertainment Authority #Saudi @Turki_alalshikh reveal to # Arabic On the financing mechanism of investment opportunities in the entertainment sector, the agreement of which was signed between the Entertainment Authority and the Social Development Bank, and the total value of the financing amounts to 500 million riyals . pic.twitter.com/pbjPcT9LfF
– Saudi Arabia (@AlArabiya_KSA) July 7, 2021
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