Environment Fund Launches a SAR 1 Billion Financing Program

The Minister of Environment, Water and Agriculture, Chairman of the Board of Directors of the Environment Fund, launched a SAR 1 billion financing program, with a portfolio provided by Riyad Bank, to enable private sector participation in environmental protection and encourage environmentally friendly practices.

This coincided with the launch today of the electronic platform for the incentives and grants program, which aims to stimulate innovation and promote environmental investments.

Muneer bin Fahad Al-Sahli, CEO of the Environment Fund, explained that the financing program aims to attract private sector investments in infrastructure, environmental and meteorological services, and encourage various development sectors to adopt environmentally friendly practices through innovative financing solutions.

Al-Sahli emphasized that this partnership is a positive step in financing environmental projects, noting that the platform will provide enablers and incentives for outstanding projects, strengthening national efforts to protect the environment and achieve sustainable development.

The financing program is a pioneering step towards promoting environmental investments in the Kingdom, as it will enable companies and entrepreneurs to benefit from enablers and incentives to develop projects that contribute to improving the quality of life and achieving sustainable environmental development.