RIYADH: Saudi Arabia’s Minister of Environment, Water and Agriculture Abdulrahman Al-Fadhli launched the Namaa Endowment Fund in Riyadh on Tuesday, aiming to strengthen the sustainability of the Kingdom’s nonprofit environmental sector.
The fund will support economic and social development, meet community needs, enhance the nonprofit sector’s contribution to GDP, and promote environmental, water, and agricultural sustainability.
Al-Fadhli said the fund introduces a new model of institutional endowment work and marks a strategic step toward achieving economic and social development goals.
He added that it will boost the nonprofit sector’s contribution to the national economy in line with Vision 2030, the Saudi Press Agency reported.
The minister noted that his department will collaborate with the General Authority for Awqaf, the Capital Market Authority, and SNB Capital to support the fund and encourage private companies, business leaders, and community members to contribute via an authorized online platform with a robust financial management system.
Al-Fadhli invited the public to contribute to the fund to drive development and ensure the long-term sustainability of the environment, water, and agriculture sectors.
The fund aims to maximize the developmental impact of its endowment assets and finance charitable initiatives within the ministry’s system, including nonprofit organizations such as the Reef National Foundation, the Vegetation Cover Development Foundation, and the Sekaya Charitable Foundation.
These initiatives will focus on water provision and conservation, afforestation, biodiversity protection, expanding vegetation cover, supporting the circular economy, advancing environmental sustainability, promoting agriculture and irrigation, and reducing food waste.
Governor of the General Authority for Awqaf Emad Al-Kharashi announced that the authority will contribute SR100 million ($26.6 million) as a starting base to build a sustainable endowment model.
He said the fund combines the cultural value of endowments with modern investment tools to achieve sustainability and growth, helping preserve the environment and natural resources.
Al-Kharashi emphasized that environment, water, and agriculture are not just service sectors, but essential pillars of life, foundations of food security, and guarantees for continued development.
The fund is designed to invest in entrepreneurship within the ministry’s sectors, activate environmental, water, and agricultural assets, and strengthen the developmental role of nonprofit organizations.
Contributions can be made via namadon.sa.
