RIYADH: Around 2.8 million owners of microbusinesses in rural areas have benefitted from projects of the Ebdaa Bank set up and promoted by the Riyadh-based Arab Gulf Program for Development (AGFUND) in nine countries: Jordan, Yemen, Bahrain, Syria, Sierra Leone, Lebanon, Sudan, Palestine and Mauritania.
This was announced by Prince Abdulaziz bin Talal bin Abdulaziz at 18th Microfinance Summit which concluded in Abu Dhabi on March 17.
“Our broader strategy, values and policies, here at AGFUND, focus on equality between all communities, and providing the marginalized keys to financial independence. This is the reason why we believe that financial inclusion is a social and economic priority. Consequently, we ask all governments to apply this principle moving forward,” said the prince who represented his father, Prince Talal bin Abdulaziz, the founder and president of AGFUND, at the opening ceremony.
The summit, jointly organized by AGFUND, the Abu Dhabi-based Khalifa Fund for Enterprise Development, and the Microcredit Summit Campaign, was held to explore how new and effective financial policies can contribute to create linkages among key influencers in the Global Access 2020 goals, the World Bank 2030 goals, and the UN Global Goals.
Around 1,800 participants from top local and international finance, economic and charitable work, and experts from all over the world attended the three-day summit.
The summit recommended benefitting from digital technology to set up low-cost national payment systems, accessible by everyone, that allow specialized financial institutions to offer financial services to micro-, small- and medium-size businesses.
Also it recommended laws and offering incentives to encourage banks and financial institutions to adapt clear strategies, plans and policies to increase the share of these kinds of businesses in their lending portfolios, and expand financial awareness and education that enable people to use financial products in ways that can improve their lives and help them build their assets.
On behalf of Prince Talal, Prince Abdulaziz concluded the event by distributing the $500,000 AGFUND International Prize to four winners.
The first winner was the women’s housing project in Nepal commissioned by Habitat for Humanity International which received a $200,000 award. The three other winners were the heritage preservation project by Sunbola Association in Palestine; the Khatwa (Step) for Domestic Projects Initiative by the Ministry of Social Development in Bahrain and the marketing artisans and productive families project in Saudi Arabia by Princess Nora bint Muhammad.
2.8 million benefit from AGFUND’s Ebdaa Bank
2.8 million benefit from AGFUND’s Ebdaa Bank
Saudi aid agency launches food distribution projects in Djibouti and Guinea
- Projects to benefit 40,000 individuals across Djibouti and 50,000 in Guinea
- KSrelief's aid programs have reached a total of 113 countries across four continents
RIYADH: The King Salman Humanitarian Aid and Relief Center (KSrelief) has launched its 2026 food distribution projects in the African republics of Djibouti and Guinea.
The initiatives are part of Saudi Arabia’s broader humanitarian relief efforts to enhance global food security for vulnerable populations, according to statements carried by the Saudi Press Agency (SPA).
In Djibouti, Saudi Ambassador Mutrek Al-Ajaleen and other local officials rolled out the fifth phase of the year’s project. It consists of 6,715 baskets of essential food items designed to support 40,000 individuals across multiple regions of the country.
In Guinea, Saudi Ambassador Dr. Fahad Al-Rashidi led the launch ceremony for a similar initiative. Under this project, 8,400 food baskets will be distributed, benefiting 50,000 people nationwide.
Since its establishment in 2015, KSrelief has served as Saudi Arabia's primary humanitarian arm, making food security one of its largest and most critical operational sectors. According to the center's official statistics, KSrelief has implemented over 1,150 dedicated food security projects at a total cost of more than $2.2 billion.
These specific food distribution initiatives have successfully delivered vital sustenance to vulnerable populations in 86 countries worldwide. Broadening the scope beyond just food security, KSrelief's overall humanitarian and development aid programs have reached a total of 113 countries across four continents.
