This fund aims to help Rwanda’s creative industry recover from COVID-19

Rwanda has taken a strategic step towards revitalizing its cultural and creative industry, which has been severely hit by the ongoing COVID-19 pandemic. A recovery fund of 300 million Rwandan Francs, equivalent to approximately $315,900 USD, has been launched by the government in collaboration with various partners with the aim of supporting 30 impactful and sustainable projects in the sector. This initiative, driven by the Ministry of Youth & Culture Rwanda and the Imbuto Foundation, underscores a concerted effort to not only revive the creative economy but also create more job opportunities for the country's youth. The fund seeks to address the devastating impact of the pandemic on businesses within the cultural and creative industry, which heavily rely on in-person events such as concerts, exhibitions, and performances - all of which have been disrupted due to lockdown measures aimed at curbing the spread of the virus. The initiative aims to promote diversity and innovation within the sector by supporting seven different categories including music, visual arts, literature, beauty and fashion, traditional dance, and performing arts. The funds are set to be disbursed during this critical period of the pandemic, however, there are plans to explore opportunities for extending the support in the future. The creative industry in Rwanda is seen as a vital contributor to the country's GDP, not only in terms of economic value but also as a means of promoting mental health and overall well-being. Arts and culture have played a significant role in helping people cope during the global health crisis, with creative products such as music, movies, and videos being instrumental in reviving both the economy and the spirits of the population. The industry also has a significant multiplier effect, creating job opportunities for hundreds of young people and supporting various auxiliary services such as transportation, accommodation, and hospitality. Data from the International Trade Center indicates that the global creative sector generated $2.25 trillion and supported 29.5 million jobs in 2019. In the case of Rwanda, the creative industry contributed approximately 5% to the national GDP in 2019, with earnings reaching 468 billion Rwandan Francs, equivalent to around $500 million USD. This growth highlights the sector's potential for driving economic development and preserving cultural heritage for future generations. The creative industry serves as a channel for passing on values, beliefs, and traditions to the youth, making it a crucial component of Rwanda's social fabric and economic landscape.