Saudi billionaire Prince Alwaleed bin Talal has inaugurated a charitable and philanthropic organization with a mission to contribute to Saudi Arabia’s development.

The Alwaleed Bin Talal Foundation based in Riyadh will be the largest such organization in the Middle East, according to a statement.

Prince Alwaleed is the chairman of the board of trustees of the foundation, while Princess Ameerah Al Taweel is the vice-chairperson. Muna AbuSulayman is the secretary general of the foundation. Other board members  include Sheikh Ali Al Nashwan and Nada Al Sugair.

The foundation encourages and supports organizations and academic centres focusing on empowering Saudi women, alleviating poverty, upgrading services provided to the population, and other social infrastructure issues that face the country, it said.

The foundation is also directly involved in major projects that provide direct aid to the citizens of Saudi Arabia ranging from medical to housing. Hundreds of housing units have been provided to poor families as part of a 10- year project. Other projects the foundation is involved in include the distribution of electric generators to remote villages and, the translation and printing of the Holy Quran in13 languages.

The Alwaleed Bin Talal Foundation was institutionalised by a Royal Decree and it obtained a license last year from the Ministry of Social Affairs.

In the past 30 years of charity and humanitarian work, Prince Alwaleed has donated approximately SR9 billion to the cause, said a statement.

The Alwaleed Bin Talal Foundation is the third foundation that is chaired by Prince Alwaleed. Two other foundations are located in Lebanon.  –TradeArabia News Service