‎Saudi Arabia launches initiative to beef up entertainment enterprises

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Model of The Long-established Leisure Authority (GEA)


The Long-established Leisure Authority (GEA), in cooperation with the Puny and Medium Enterprises Financing Enlighten Program (Kafalah), launched an initiative to beef up and empower medium, little and micro entertainment enterprises working in Saudi Arabia.

The price of funding offered by Kafalah within the initiative amounts to SAR 15 million for medium enterprises, little enterprises (SAR 5 million), and micro enterprises (SAR 2.5 million), with a protection rate of 90%, looking on the scale of the enterprises, Saudi Press Agency reported.

The financing is offered by job of banks and licensed financing firms, in step with the requirements of this technique.

The initiative contributes to strengthening the entertainment sector system and reaching sustainability, through offering the necessary guarantees to the financing entities, as neatly as rising the financing rate for the entertainment enterprises and services and products connected to develop chains of the entertainment sector and its infrastructure in the Kingdom.

The initiative comes as a part of a bundle to beef up and stimulate investments in the entertainment sector, in coordination between the Ministry of Finance, the GEA and the Quality of Existence Program, in step with Imaginative and prescient 2030.