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FinancialNews


  • 09-03-23

    Saudi Cabinet agrees on regional hub for climate change

    (MENAFN) A Regional hub for Climate Change is going to be built in Saudi Arabia following the nation’s cabinet signed off on the program as part of its initiatives to secure the environment.

    Throughout the gathering, ruled by Crown Prince Mohammed bin Salman at Irqah Palace in Riyadh, the cabinet declared that the concentration of the hub is going to be to establish the knowledge base needed to drive adaptation to climate change, decline its impacts and reach maintainability along with the aims of the Saudi Vision 2030, as reported by the Saudi Press Agency.

    The cabinet also permitted the first wave of ventures backed by the Private Sector Partnership Reinforcement Program, also recognized as Shareek.

    It stated that the plan, valued at more than SR192 billion (USD51.14 million), affirmed financial surge by fostering private-sector funding, growing local content and increasing the Kingdom’s gross domestic output.

    The cabinet’s recommendations also involved establishing the Saudi Program for Attracting International Companies Headquarters under the supervision of the Royal Commission for Riyadh City.

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