Govt sets up financial assistance fund for creators
The government has promised to provide financial assistance to film and music makers, craftsmen, arts and crafts and other technical workers.
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The government on Tuesday launched a fund to provide financial assistance to filmmaking, music production and artistic work.
Economic Minister Mohamed Saeed launched the ‘Creative Economy Fund’ at a ceremony held at Dharubaaruge Tuesday evening. The Business Centre Corporation (BCC) said the government has launched the project to provide financial assistance to the manufacturing industries.
The fund will provide assistance in four areas this year:
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Making films
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Creating music
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Art and crafts work
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Content creation work
For more details on the fund:
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Each will be paid between MVR 50,000 and MVR 300,000
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The opportunity to apply for the fund will be opened on October 10
BCC said it had met with technical workers and listened to their complaints. The biggest challenge, they said, was the lack of a monthly income.
There is also a risk of failure due to the market in Maldives, which has made it difficult to obtain loans, it said.
The BCC is currently working to formalise a special register of artists and provide financial assistance. The focus will be on establishing a 'revenue-based financial scheme', which will provide assistance by paying a certain percentage of the loan based on the income of the person.
