Saudi Arabia has launched the Namaa Endowment Fund to strengthen the long-term sustainability of the Kingdom’s environmental non-profit sector.

According to the Saudi Press Agency, the fund aims to maximize the developmental impact of its endowment assets while financing charitable initiatives under the Ministry of Environment, Water, and Agriculture. Beneficiaries include the Reef National Foundation, the Vegetation Cover Development Foundation, and the Sekaya Charitable Foundation.

Supported initiatives will focus on water provision and conservation, afforestation, biodiversity protection, expanding vegetation cover, advancing agriculture and irrigation, promoting the circular economy, and reducing food waste.

At the launch, Minister of Environment, Water and Agriculture Abdulrahman Alfadley said the fund is designed to strengthen the sustainability of the non-profit sector while advancing broader economic and social development goals.

He described it as a new institutional endowment model aligned with Saudi Vision 2030, aimed at increasing the sector’s contribution to GDP and supporting environmental, water, and agricultural resilience.

The ministry will work with the General Authority for Awqaf, the Capital Market Authority, and SNB Capital to support the fund and encourage contributions through an authorized online platform backed by structured financial oversight.

Emad Al Kharashi, governor of the General Authority for Awqaf, announced an initial contribution of $26.6 million to establish the endowment base. He said the fund combines the Kingdom’s longstanding endowment tradition with modern investment tools to drive sustainable growth and safeguard natural resources.

Structured as an investment-focused endowment vehicle, the fund will channel resources into entrepreneurial outcomes across the ministry’s sectors while strengthening the developmental role of non-profit organizations.