UNESCO, the United Nations agency responsible for culture, education and science, has opened a new international policy dialogue focused on expanding financing for cultural and creative sectors.
The first online session, held on 9 July 2026 with support from the European Union, brought together more than 50 representatives from 27 regional organizations and development banks. Participants included the African Development Bank, Afreximbank, the World Bank, the African Union and the Organisation internationale de la Francophonie.
The process is intended to help governments and financial institutions include culture in national development plans and investment programmes linked to tourism, urban development, employment, climate policy, small businesses and social inclusion.
UNESCO is encouraging greater use of financial tools suited to cultural businesses, including grants, guarantees, adapted loans, blended finance, equity and specialist investment funds. Cultural companies often struggle to access conventional finance because much of their value is held in intellectual property and revenues can be irregular.
Afreximbank's previously announced US$1 billion film fund, managed by its Fund for Export Development in Africa, was cited as an existing example of investment intended to support film production and distribution across Africa.
The 9 July session did not produce a new fund, open call or financing commitment. It began a consultation process that UNESCO says will contribute to policy guidance for member states. A second online dialogue is scheduled for September 2026.
Source: africanfilmpress.com