JEDDAH: Saudi Arabia’s Disabled Children’s Association (DCA) continues its efforts to complete its charity investment project “Khair Makkah,” located within the the borders of the Grand Mosque in Makkah’s Al-Naseem district.
DCA works to help maximize the quality of life for disabled children in Saudi Arabia.
The association explained that the first phase of this philanthropic project, which is expected to be completed next year, will cost SR180 million and will include two towers constructed over an area of 5,700 square meters.
The revenues from the rentals of both towers are expected to cover the expenses of two out of 11 service centers spread across the Kingdom to benefit handicapped children in Riyadh, Jeddah, Taif , Madinah, Assir, Hail, Al-Jawf, Al-Ras and Jazan.
Almost 80% of the construction work of the first phase has been completed and is expected to be submitted by mid next year. The project’s revenues, expected to be 5%, will cover the expenses of several disabled children care centers.
DCA is encouraging philanthropists to participate in completing this mega project on its deadline by sending text messages for donations to number 5050.
It will provide a permanent source of support for operation expenses and other free specialized services for around 4,000 children yearly, especially in light of the remarkable growth in its annual operating budget, which reached SR120 million.
According to the association, the total amount of sukuk for the “Khair Makkah” project amounted to about SR180,000, 147,000 of which were subscribed, while 33,000 are remaining sukuk. The value of one Suk is SR1,000. A further SR33 million is needed to complete the project.
Saudi Arabia's Disabled Children’s Association continues campaign to complete ‘Khair Makkah’ project
Saudi Arabia's Disabled Children’s Association continues campaign to complete ‘Khair Makkah’ project
Economic growth and resilience at heart of 2nd AlUla Emerging Market Economies Conference
- Event on Feb. 8 and 9 will bring together ministers, governors of central banks, policymakers, economic experts and international financial institutions
- Emerging-market economies a ‘pivotal element’ in global economic system due to effect they have on growth and stability, says Saudi Finance Minister Mohammed Al-Jadaan
RIYADH: The second annual AlUla Conference for Emerging Market Economies, which Saudi Arabia will host next week, offers a platform to exchange views on global developments and discuss policies and reforms that support inclusive growth and strengthen economic resilience, the Kingdom’s finance minister said.
The event on Feb. 8 and 9 will bring together finance ministers, governors of central banks and policymakers, alongside economic experts and representatives of international financial institutions.
Organized by the Saudi Ministry of Finance in partnership with the International Monetary Fund, it takes place as emerging-market economies face mounting challenges amid rapid global economic change.
Finance Minister Mohammed Al-Jadaan said the decision to host the conference reflects Saudi Arabia’s ongoing commitment to efforts that support global financial and economic stability, and highlights the growing influence of emerging economies on worldwide growth.
Emerging-market economies represent a “pivotal element” in the global economic system due to the direct impact they have on economic growth and stability, he added.
“The AlUla Conference for Emerging Market Economies provides a unique platform for exchanging views on global economic developments, and discussing policies and reforms that will support inclusive growth and enhance economic resilience, in light of broader international cooperation that contributes to confronting common challenges,” Al-Jadaan said.
Kristalina Georgieva, managing director of the IMF, said the event would help emerging economies deal with growing uncertainty driven by technological change, demographic shifts and geopolitical tensions.
“The AlUla conference provides a vital platform for emerging economies to discuss how they can navigate the risks and embrace the opportunities ahead,” she said.
“In these times of sweeping transformations in the global economy, policymakers face a more challenging and uncertain environment. Countries should work together to strengthen resilience through sound macroeconomic and financial policies.”
