عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Arabia Launches HUMAIN to Develop Artificial Intelligence

Saudi Crown Prince Mohammed bin Salman. SPA
Saudi Crown Prince Mohammed bin Salman. SPA
TT
TT

Saudi Arabia Launches HUMAIN to Develop Artificial Intelligence

Saudi Crown Prince Mohammed bin Salman. SPA
Saudi Crown Prince Mohammed bin Salman. SPA

Saudi Crown Prince Mohammed bin Salman has launched a new company under the Public Investment Fund (PIF) named HUMAIN to develop and manage artificial intelligence technologies.

Chaired by the Crown Prince, HUMAIN will provide a comprehensive range of AI services, products, and tools, including next-generation data centers, AI infrastructure, cloud capabilities and advanced AI models and solutions.

The company will also offer one of the world's most powerful multimodal Arabic large language models (LLMs.

Saudi Data and Artificial Intelligence Authority (SDAIA) President Dr. Abdullah Alghamdi praised the Crown Prince’s announcement of the launch of HUMAIN.

He described the move as a strategic decision that strengthens Saudi Arabia's position as a leader in data and AI and supports the foundations of a knowledge-based economy.

Alghamdi stated that the launch of HUMAIN reflects the Crown Prince's unwavering support to position Saudi Arabia as a global hub for advanced and AI-related technologies, especially amid the current global technological and knowledge transformations.

He stated that the company will bolster national efforts to advance the Kingdom's leadership in data and AI-driven economies and accelerate the development and application of these technologies for the benefit of the country and humanity.

He said that the world is witnessing rapid transformations across various fields due to the rise of AI technologies and their applications, which have become a cornerstone of the global economy. Guided by its leadership, he said, the Kingdom has sought to harness these technologies to advance digital transformation, boost economic growth, productivity, and global competitiveness.

Most Viewed

 
 
Business

World Bank: New $250 Million Project to Kickstart Reconstruction in Lebanon

Cars and motorbikes drive near damaged buildings in Beirut southern suburbs, Lebanon June 23, 2025. REUTERS/Mohamed Azakir
Cars and motorbikes drive near damaged buildings in Beirut southern suburbs, Lebanon June 23, 2025. REUTERS/Mohamed Azakir
TT
TT

World Bank: New $250 Million Project to Kickstart Reconstruction in Lebanon

Cars and motorbikes drive near damaged buildings in Beirut southern suburbs, Lebanon June 23, 2025. REUTERS/Mohamed Azakir
Cars and motorbikes drive near damaged buildings in Beirut southern suburbs, Lebanon June 23, 2025. REUTERS/Mohamed Azakir

The World Bank Board of Executive Directors has approved $250 million in financing for Lebanon to aid in the reconstruction of critical public infrastructure and the management of rubble in areas affected by the Israel-Hezbollah war.

“The Lebanon Emergency Assistance Project (LEAP) will prioritize and sequence interventions to maximize economic and social impact within the shortest timeframe and provide a phased approach to response, recovery and reconstruction,” the World Bank said in a statement on Wednesday.

The Rapid Damage and Needs Assessment (RDNA) of the impact of the conflict between Israel and Hezbollah between October 8, 2023, and December 20, 2024, estimated total direct damages across 10 sectors at $7.2 billion, and reconstruction and recovery needs at $11 billion.

Damage to critical infrastructure and buildings that are critical to economic activity and to the health and safety of communities was estimated at $1.1 billion across the transport, water, energy, municipal services, education and health care sectors. Considering the scale of needs, the LEAP was designed to support restoration of public infrastructure and buildings, given this is a precondition to economic and social recovery.

“Given Lebanon’s large reconstruction needs, the LEAP is structured as a $1 billion scalable framework with an initial $250 million contribution from the World Bank and the ability to efficiently absorb additional financing—whether grants or loans—under a unified, government-led implementation structure that emphasizes transparency, accountability, and results,” said World Bank Middle East Division Director Jean-Christophe Carret.

“This framework offers a credible vehicle for development partners to align their support, alongside continued progress on the Government’s reform agenda, and maximize collective impact in support of Lebanon’s recovery and long-term reconstruction,” he added.

The WB financing will support immediate response activities required to accelerate recovery and create the conditions that favor a return to normality, including the safe and well-planned management of rubble that maximizes the reuse and recycling of rubble. Critical support will also be provided to the rapid repair and recovery of essential services, such as water, energy, transport, health, education and municipal services.

The LEAP framework will also support the reconstruction of severely damaged infrastructure, starting with designs and environment and social assessments financed through WB initial financing.

To ensure the Project’s operational readiness and its efficient and prompt implementation, the Lebanese government has undertaken critical reform measures in the project’s implementing agency, the Council for Development and Reconstruction (CDR), the World Bank said in its statement.

The measures include the establishment of a complete and functional CDR Board of Directors and streamlining administrative and decision-making processing for the LEAP, in line with international best practices for emergency projects.