His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has directed the launch of the UAE Cultural Development Fund, which will be overseen by the Ministry of Culture and Knowledge Development.
The fund's key objectives include providing necessary funds to support cultural activity within the country and encouraging projects and initiatives aimed at promoting the development of the UAE cultural product.
The fund will also ensure the participation of all segments of UAE society in the implementation of cultural development plans, which is one of the main components of comprehensive development.
The fund will additionally encourage the role of the private sector in the process of cultural and knowledge development.