Centennial Fund awarding grants
The Centennial Fund on Wednesday announced the awarding of grants to 16 young men and women to support a number of projects as part of the fund's trial program. The winning project concepts are the first to be chosen amongst others to be announced in the coming weeks.
In a ceremony hosted by the Saudi Arabian General Investment Authority (SAGIA) yesterday, the 16 winners received their initial installment of the grants from his Royal Highness Prince Abdul Aziz bin Abdullah bin Abdul Aziz, advisor to his Royal Highness the Crown Prince, President of the Board of Trustees of the Centennial Fund. Mr. Amr Al-Dabbagh also attended the ceremony.
In part of the support that the Fund extends to the recipients is the availability of seasoned mentors who will work alongside the project owners in order to assist them in the various phases of their project implementation. The recipients will also receive appropriate training in areas consistent with the needs of their projects.
He commented, "The establishment of the Fund was made possible because of the Crown Prince's personal attention and concern for Saudi youth and for matters relating to their development."
The recipients, aged between 18 and 35, were selected in part because of their personal passion for excellence and have demonstrated effective organizational skills, business acumen and an overall ability to bring together the array of elements necessary to succeed in their projects.
He added that best-in-class policies and regulations governing the Fund will be developed in order to accommodate and support the hundreds of new project applications in the phase after the end of this trial.
He extended his gratitude to the individuals and companies who have financially supported the Fund, adding a note of appreciation to the many government agencies and in particular to the Jeddah Chamber of Commerce. To those who have given their time and expertise to the projects, he urged their continued support and expert assistance to young Saudi men and women nationwide and to focus attention to those in smaller cities around the Kingdom.