The Saudi Ministry of Energy concluded on Sunday a cooperation agreement with the Saudi National Bank (SNB Al-Ahli) to launch a social entrepreneurship accelerator.
The accelerator will assist entrepreneurs, emerging pioneering projects, and small enterprises in the energy sector and transform their ideas into realistic investment entities.
Signed in the presence of Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz and Chairman of the Board of Directors of the National Bank Saeed al-Ghamdi, the agreement will help raise the level of participation of entrepreneurs in developing the services supervised by the Ministry.
The Ministry's Community Development Advisor, Mona al-Ghamdi, and Al-Ahli's Senior Vice President and head of the Social Responsibility Department Basma al-Jawhari signed the agreement.
The deal includes cooperation between the two parties in developing appropriate mechanisms for the program and exchanging experiences and ideas between them.
They agreed on the program's implementation, participation in awareness campaigns, and introduction of the program.
The agreement comes from the Ministry's role in community development by supporting the implementation and transfer of social leadership ideas and solutions in the energy sector in cooperation with the rest of the relevant government and private agencies.
The Ministry of Energy believes in the importance of community development and supports and encourages the establishment of non-profit organizations under its supervision.
It also seeks to contribute to raising the efficiency of the technical performance of the organizations and overcoming the difficulties they face in carrying out and developing their activities.
It aspires to achieve Vision 2030 goals and activate the social responsibility role of energy companies locally and internationally.
The Ministry’s goals include encouraging energy companies and entities by contributing to raising the level of awareness and commitment to sustainable development goals, ensuring the sector contributes to its national social responsibility, and supporting social innovation in energy. It also seeks to develop a culture of volunteer work.
