Saudi Ministry of Energy signs an agreement to launch Social Entrepreneurship Accelerator

Today, the Ministry of Energy and the National Bank signed a cooperation agreement that includes launching an accelerator for emerging social projects that will assist entrepreneurs, emerging pioneering projects, and small enterprises in the energy sector, and transform their ideas into a realistic investment entity, which contributes to raising the level of entrepreneurs’ participation in developing the services supervised by the Ministry. In the presence of Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, and Saeed bin Mohammed Al-Ghamdi, Chairman of the Board of Directors of the National Bank of Saudi Arabia.

The agreement, which was signed on behalf of the Ministry of Energy by the Ministry’s Community Development Advisor, Mona Bint Ali Al-Ghamdi, and on behalf of the National Bank of Saudi Arabia, Basma Bint Abdulaziz Al-Jawhari, Senior Vice President – Head of the Social Responsibility Department at the Bank, includes cooperation between the two parties in developing appropriate mechanisms for the program, and exchanging experiences and ideas between them. The two parties regarding the implementation of the program, participation in awareness campaigns and introducing the program.

The agreement comes from the Ministry’s role in community development in supporting the activities of implementing and transferring social entrepreneurship ideas and solutions in the energy sector, in cooperation with the rest of the relevant government and private agencies, and empowering the entities affiliated with it and under its supervision, in addition to the National Bank of Saudi Arabia having initiatives in supporting multiple programs. Social responsibility and its implementation.

It is noteworthy that the Ministry of Energy attaches great importance to community development, as it works to support and encourage the establishment of non-profit organizations under the supervision of the Ministry of Energy, and to contribute to raising the efficiency of the technical performance of these organizations, and to overcome the difficulties they face in carrying out and developing their activities, to achieve the goals of the Kingdom’s Vision 2030, and to activate the role of Social responsibility among energy companies internally and externally, and spreading a culture of social responsibility in the energy sector. It also sets among its goals in this field to encourage companies and entities in the energy system by contributing to raising the level of awareness and commitment to sustainable development goals, to ensure that the energy sector contributes to its national social responsibility, to support and encourage social innovation in the energy sector in the Kingdom of Saudi Arabia, and to develop and enhance the culture of volunteer work in The energy system, and organizing volunteer efforts between volunteers and beneficiary organizations.