The Saudi Crown Prince, Prime Minister, and Chairman of the Board of Directors of Riyadh Royal Commission, Mohammed bin Salman, has announced on Thursday the establishment of the non-profit Riyadh Foundation and the formation of its board of directors.
Riyadh Foundation Establishment
The establishment of the Riyadh Foundation follows a royal decree. It will operate as an independent entity, under the authority of the Royal Commission for Riyadh City (RCRC).
According to the RCRC’s statement, Crown Prince Mohammed bin Salman will chair the Riyadh Foundation’s Board of Directors, and the RCRC’s CEO, Eng. Ibrahim bin Mohammed Al Sultan, will be the Vice Chairman and Secretary-General of the Board.
Promoting Social Work
The non-profit Riyadh Foundation aims to support and foster institutional and social work, promote research and social activities, and enhance community engagement in developing programs for the non-profit sector in areas related to the Foundation’s goals.
Furthermore, it aims to cultivate the culture of social work and reinforce its values. Hence, the launching of the Riyadh Foundation is a key step towards promoting social development and innovation in the non-profit sector.
Moreover, the non-profit Riyadh Foundation focuses on achieving social development through enabling all society segments, enhancing social cohesion, and contributing to preserving the identity of the Riyadh community.
In addition, it will cooperate with government entities and non-profit institutions to foster job creation in the social sector.
Global Leadership
The non-profit Riyadh Foundation also aims to become a regional and global leader in the fields of financing, designing and launching innovative social programs; supporting healthcare, education, arts and culture; enhancing sustainable environment; and contributing to improving the quality of life.
Additionally, it aims to achieve social development in Saudi Arabia through building an integrated and cohesive system, establishing research centers and social enterprise incubators, and enhancing social engagement.
It also seeks to achieve its goals by effectively managing affiliate entities and improving their performance to better serve their objectives in line with Vision 2030.
