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Saudi Arabia launches $266 million initiative to boost green investment
A new digital platform was also launched to streamline funding access, drive innovation, and boost environmental sector investment.
Saudi Arabia has launched a $266.6 million environmental financing initiative in partnership with Riyad Bank to boost private sector investment in sustainable projects.
Announced by Abdulrahman Al-Fadhli, Minister of Environment, Water, and Agriculture and chairman of the Environmental Fund’s board, the initiative supports the Kingdom’s Vision 2030 goals by accelerating eco-friendly development and fostering a greener economy.
As part of the launch, a new digital platform for the Incentives and Grants Program has been introduced to streamline funding access, drive innovation, and attract investment in the environmental sector.
Munir bin Fahd Al-Sahli, CEO of the Environmental Fund, emphasized that the initiative will strengthen environmental infrastructure and meteorological services while encouraging businesses to adopt sustainable practices through innovative financing. He described the collaboration with Riyad Bank as a significant step in advancing green project funding in Saudi Arabia.
The platform will provide incentives and support for high-impact environmental initiatives catering to SMEs, corporations, research centers, and non-profits. It aims to promote compliance and environmental responsibility across industries.
Al-Sahli reaffirmed the Environmental Fund’s commitment to providing financial and technical support for projects that protect natural resources and drive sustainable development. He encouraged stakeholders to take advantage of the new platform and highlighted its role in the Kingdom’s broader efforts to balance economic growth with environmental preservation.
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