Saudi Arabia has announced the launch of Namaa Endowment Fund, aimed at strengthening the sustainability of the non-profit sector within the kingdom’s environmental system. 

The fund aims to maximise the developmental impact of its endowment assets and finance charitable initiatives within the ministry’s system, represented by non-profit organizations such as the Reef National Foundation, the Vegetation Cover Development Foundation, and the Sekaya Charitable Foundation, reported SPA. 

These initiatives will focus on providing water, conserving water resources, afforestation, biodiversity protection, expanding vegetation cover, supporting the circular economy, strengthening environmental sustainability, advancing agriculture and irrigation, and reducing food waste.

Speaking at the launch, Saudi Minister of Environment, Water and Agriculture Abdulrahman Alfadley said the Namaa Endowment Fund is aimed at strengthening the sustainability of the non-profit sector within the kingdom’s environmental system. 

The fund seeks to support economic and social development goals, meet community and development needs, enhance the non-profit sector’s contribution to GDP, and promote environmental, water, and agricultural sustainability.

Alfadley said the Fund represents a new model of institutional endowment work and a strategic step toward achieving economic and social development targets. 

It will help boost the non-profit sector’s contribution to the national economy in line with the goals of Saudi Vision 2030, he added.

The ministry will work with its partners - the General Authority for Awqaf, the Capital Market Authority, and SNB Capital - to support the fund and encourage private companies, business leaders, and community members to contribute through an authorized online platform and a robust financial management system, said the SPA report. 

He invited the public to contribute to the fund to drive development and ensure the sustainability of the environment, water, and agriculture sectors.

Governor of the General Authority for Awqaf Emad Al Kharashi announced that the authority will contribute SAR100 million ($26.6 million) as a starting base for building a sustainable endowment model. 

He said the Namaa Endowment Fund reflects a clear vision that combines the deep-rooted cultural value of endowments with modern investment tools to achieve sustainability and growth, helping preserve the environment and natural resources. 

He emphasized that environment, water, and agriculture are not merely service sectors, but essential pillars of life, foundations of food security, and guarantees for continued development.

The fund is also designed as an endowment model that invests in entrepreneurship outputs within the ministry’s sectors, activates environmental, water, and agricultural assets, and strengthens the developmental role of non-profit organizations.