Riyadh, The Mohammed bin Salman Foundation (MiSK) and King Khalid Foundation have signed a memorandum of understanding with the aim of supporting youth non-profit organizations, boosting their social impact and enhancing their contributions to realizing the comprehensive national development program, according to the Saudi Vision 2030.
The agreement, which aims at supporting efforts to empower the non-profit sector in the Kingdom of Saudi Arabia, was signed by Princess Nouf bint Mohammed, CEO of the King Khalid Foundation, and MiSK CEO Dr. Badr bin Hmoud Al-Badr.
Princess Nouf bint Mohammed said that the cooperation with MiSK aims at stimulating joint action between national organizations that support the non-profit sector, in a bid to enhance its economic weight and boost its social impact in the Kingdom of Saudi Arabia.
Princess Nouf said that “King Khalid Foundation looks at partnerships as a means of supporting non-profit organizations and providing them with tools and capabilities necessary to enable them to make an impact and create change in the society”.
For his part, MiSK CEO said that the foundation is happy for this constructive cooperation with one of the partner foundations, which is the King Khalid Foundation that will provide a pillar to draw unified strategic goals within the scope of youth initiatives and organization for both sides, in addition to agreeing to hold joint executive programs in light of these goals.
He added that MiSK puts the empowerment of the society, mainly the youth, at the top of its action priorities through holding partnerships and launching programs and initiatives, noting that this cooperation with partners at the King Khalid Foundation is just a new episode of a series of efforts exerted by MiSK to build a vital system that enables Saudi young talents to draw the future of the Kingdom of Saudi Arabia and the entire world.
The memorandum signed between MiSK and the King Khalid Foundation aims at providing a base for joint action between the two sides in a bid to support non-profit youth organizations and initiatives in the Kingdom of Saudi Arabia and multiplying the number of these organizations and initiatives in a way that contributes to increasing the share of the non-profit sector in the national economy to 5 percent by 2030.
Both sides, under the signed cooperation agreement, will also exchange expertise and information, cooperate to develop the work of non-profit organizations, and publish research and studies that aim at improving the legislative environment for their work.
Source: Saudi Press Agency