Saudi Arabia has launched the Namaa Endowment Fund, a significant initiative designed to ensure the long-term financial sustainability of the Kingdom’s environmental non-profit sector. The fund was announced by the Ministry of Environment, Water, and Agriculture and aims to channel investment returns into key charitable projects.
A Vision 2030-Aligned Initiative
At the launch event, Minister of Environment, Water and Agriculture Abdulrahman Alfadley emphasized that the fund represents a new institutional endowment model aligned with Saudi Vision 2030. He highlighted its dual purpose of strengthening the non-profit sector’s sustainability while advancing broader economic and social development goals.
The fund is set to increase the environmental sector’s contribution to GDP and bolster the resilience of the nation’s environmental, water, and agricultural systems. The ministry will collaborate with the General Authority for Awqaf, the Capital Market Authority, and SNB Capital to manage the fund and facilitate contributions through a secure online platform.
A Modern Approach to Endowments
Emad Al Kharashi, governor of the General Authority for Awqaf, announced an initial contribution of $26.6 million (SAR 100 million) to establish the endowment’s financial base.
Al Kharashi noted that the fund merges the Kingdom’s deep-rooted endowment traditions with modern investment instruments to foster sustainable growth and protect natural resources. Structured as an investment-focused endowment vehicle, the fund will direct resources toward entrepreneurial outcomes that support the ministry’s objectives.
Strategic Focus and Beneficiaries
The initiatives supported by the Namaa Endowment Fund will cover a wide range of critical environmental areas. These include water provision and conservation, afforestation, biodiversity protection, expansion of vegetation cover, and the advancement of modern agriculture and irrigation techniques.
Furthermore, the fund will back projects promoting the circular economy and aiming to reduce food waste. Initial beneficiaries of the fund’s support include the Reef National Foundation, the Vegetation Cover Development Foundation, and the Sekaya Charitable Foundation.
About Namaa Endowment Fund
The Namaa Endowment Fund is a Saudi Arabian government-led initiative established to provide long-term financial support to the environmental non-profit sector. With an initial base of $26.6 million, the fund operates as an investment-focused endowment vehicle, channeling returns into projects that align with the Ministry of Environment, Water, and Agriculture’s goals and Saudi Vision 2030. Its key areas of focus are water conservation, afforestation, biodiversity, and sustainable agriculture.
Source: Fast Company Middle East
