The General Entertainment Authority (GEA) signed today, July 7, a memorandum of understanding (MoU) with Social Development Bank (SDB) to offer up to SAR 500 million loans.
Incentives are offered to qualitative investment opportunities to boost local content, GEA said in a statement.
Both parties will cooperate in various fields, such as the financial support of entertainment activities. They will also develop the required credit mechanisms and refer the establishments that fulfill the finance program conditions to SDB.
GEA will finance a minimum of 50 projects throughout the MoU term, the statement added.
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