Creative Economy Fund to Receive Major Boost with USD 1.6 Million Budget Allocation

In a bid to support and expand the country’s creative sector, the Maldives government has announced a USD 1.6 million allocation for the Creative Economy Fund in the 2025 national budget. The funds are expected to bolster opportunities for local artists and contribute to the development of key cultural infrastructure.

Minister of Youth Empowerment, Information, and Arts, Ibrahim Waheed, shared the news during an interview with PSM News, highlighting the Ministry’s achievements over the past year while also outlining plans for the upcoming year. The allocated funds will primarily focus on enhancing the artistic community and providing more platforms for creative expression.

One of the key initiatives mentioned by Minister Waheed is the establishment of a high-quality art gallery and cinema. Both projects are expected to be completed by the end of the Minister’s term. Waheed acknowledged the current limitations in the country’s film exhibition capacity, with only one cinema available, and stressed the need for better avenues to showcase films. “We will create better avenues for these screenings,” he stated, recognizing the long queues of directors waiting to have their films shown.

In addition to the arts, Minister Waheed announced plans for the construction of a new National Library, set to begin next year. He also revealed that modern libraries will be developed in seven regions across the country, with completion anticipated within the next four years. This initiative aims to broaden access to literature and educational resources, further fostering a culture of learning and creativity.

The financial support for artists will be provided through the Creative Economy Fund, as previously outlined by President Mohamed Muizzu during the “Unveiling Visions” event hosted by the Maldivian Artist Community. This support will also be used to purchase essential equipment and resources, ensuring that artists have the tools they need to thrive in their respective fields.

With these initiatives, the government aims to provide the resources necessary to nurture the growth of the creative economy, strengthening the nation’s cultural identity while supporting the development of the arts and entertainment industries.