Alwaleed Philanthropies, chaired by Saudi billionaire Prince Alwaleed Bin Talal Bin Abdulaziz AlSaud, has signed a memorandum of understanding (MoU) with Aljazirah Vehicles Agencies, the dealer of Ford and Lincoln cars in Saudi Arabia, to distribute 7,000 cars to various beneficiaries.

The programme offers 1,000 cars a year for seven years.

This partnership initiative will add to the Housing and Car Grants project that began in 2015 and will extend to 10 years, under which Alwaleed Philanthropies has committed to provide 10,000 housing units and 10,000 cars throughout the kingdom, said a statement from the organisation.

Moreover, it was agreed to provide 200 additional cars with special specifications and equipment suitable to transport the people in need, which are with disabilities, it said.

In line with Prince Alwaleed’ s belief in Saudi Arabia’s vision 2030, the initiative has emerged to empower women and youth through securing jobs that will have a great impact on the local economy, it added.

Human resource development is one of the most important objectives of Vision 2030, therefore, an initiative has been agreed to train 100 young men and women in cars and mechanical work. In addition, financing and supporting small car projects for distinguished young people.

The agreement was signed in the presence of Princess Lamia AlSaud, Alwaleed Philanthropies secretary general; Amal Al Kathiri, executive director of the National Initiatives Department, along with Aljazirah Vehicles Agencies representatives - Mohammed Al Kradees, deputy CEO; and Abdullah Alobthani, director of the government sales department in the kingdom.

For over four decades, Alwaleed Philanthropies has supported and spent more than $4 billion on social welfare, and initiated more than 1000 projects in over 164 countries, managed by 10 Saudi females members, reaching more than 533 million beneficiaries around the world, regardless of gender, race, or religion.

Alwaleed Philanthropies collaborates with a range of philanthropic, governmental, and educational organisations to combat poverty, empower women and youth, develop communities, provide disaster relief and create cultural understanding through education. It seeks to build bridges for a more compassionate, tolerant, and accepting world. – TradeArabia News Service