https://arab.news/yd7qc
Bank AlJazira has established a strategic partnership with the Cultural Development Fund, to support the growth and sustainability of cultural enterprises, enhance the sector’s creative output, significantly boost its contribution to the Saudi GDP, and drive broader economic development across the nation.
The landmark agreement is in line with the Cultural Development Fund’s role as a key financial enabler for the cultural sector in the Kingdom, and continues Bank AlJazira’s legacy as a committed partner in fostering national economic growth.
The agreement was formally signed by Sami J. Al-Mehaid, senior vice president and head of the corporate and institutional banking group at Bank AlJazira, and Majid Al-Hugail, CEO of the Cultural Development Fund, on Aug. 18 at the Fenaa Alawwal Center in the capital’s Diplomatic Quarter.
Al-Mehaid said: “We are honored to establish this strategic partnership with the Cultural Development Fund. This agreement underscores Bank AlJazira’s commitment to supporting the cultural sector within the Kingdom. Through this collaboration, Bank AlJazira will offer flexible and accessible financing solutions with competitive benefits to foster the growth of micro, small, and medium-sized cultural enterprises. This partnership highlights our dedication to empowering the cultural sector, a crucial and influential element of the national economy. It will enable cultural projects to flourish and align with the objectives of Vision 2030, allowing cultural creators to compete for high-value projects and contracts.”