RIYADH: Prince Alwaleed Bin Talal formally inaugurated the Alwaleed Bin Talal Foundation at the organization’s headquarters in Riyadh on Sunday.
The prince described the foundation as a charitable and philanthropic organization with a mission to contribute to the Kingdom’s development. Prince Alwaleed was speaking at a packed press conference held on Sunday in the capital.
“It encourages and supports organizations, studies and academic centers focusing on empowering Saudi women, alleviating poverty, upgrading services provided to the population and other social infrastructure issues that face the country,” the prince said.
Alwaleed added that the organization, the largest foundation in the Middle East, had so far spent SR9 billion for charitable and humanitarian work during the past 30 years.
The foundation will function under the aegis of the Ministry of Social Affairs.
Princess Ameerah Al-Taweel will be the vice chairperson of the board of trustees, while Muna Abu Sulayman will function as the foundation’s secretary-general.
Sheikh Ali Al-Nashwan and Nada Al-Sugair will be board members. Prince Alwaleed said that two such foundations are currently functioning in Lebanon of which he is the chairman of the board of trustees.
The Lebanon-based organizations are involved in establishing educational centers and supporting studies and forums that encourage interfaith dialogue. It also provides humanitarian assistance to ease poverty and famine around the world. The foundation has supported 57 countries, including 14 Arab countries, 20 African countries and 14 Asian countries.
