Cooperate with Aqua Bauer to support the pilots

Monday-2024-12-09

The Bank for Social Development and Akwa Bauer signed a cooperation agreement aimed at establishing a sustainable financing portfolio within the Aqua Bauer Social Responsibility Programme, which is part of joint efforts to promote social investment through inclusive and sustainable development financing solutions that contribute to building a vital and productive society, in line with the Kingdom ' s 2030 vision.
This partnership is an innovative model for channelling Aqua Bauer ' s social responsibility allocations towards sustainable economic and social development. The Convention includes the creation of a dedicated finance portfolio to support business leaders with innovative ideas in the water and energy sectors, while ensuring that these allocations are managed efficiently to maximize the benefits to beneficiaries and ensure long-term sustainability of the positive impact.
The Convention aims to achieve a tangible impact by facilitating access by business leaders in the water and energy sectors to affordable financing solutions, as well as through specialized training and rehabilitation programmes that enhance their skills and contribute to sustainable employment for citizens. It also focuses on supporting domestic output and diversifying the national economy by maximizing the added value of the water and energy sectors and providing opportunities for emerging and small enterprises to develop their ideas and aspirations, thereby supporting the sustainability and competitiveness of the economy.
In this context, Engineer Sultan Bin Abdulaziz Al-Hamidi, Executive Chairman of the Social Development Bank, stated: " This Convention reflects the Bank ' s commitment to its leading role in supporting business leadership and strengthening strategic partnerships with the private sector in vital sectors such as water and energy. Our cooperation with Aqua Bauer is a strategic step towards enabling business leaders to develop their ideas into sustainable projects that contribute to strengthening the national economy and creating quality employment opportunities, in line with 20 targets. "
For his part, Marco Artcheli, Executive Chairman of Aqua Bauer, said: " This cooperation is an important step towards achieving the social responsibility goals that are an integral part of our business model, as well as our commitment to governance, sustainability, safe and reliable water and energy, while continuing to support the communities in Saudi Arabia and the States in which we are present. Through this partnership we seek to achieve inclusive integration, enhance technical skills and provide employment, in line with national economic and social development goals.
It should be noted that the Convention affirms the commitment of the parties to sustainable development by providing innovative financing solutions with sustainable impact, and seeks to promote innovation and sustainability in the water and energy sectors, thus entrenching the Kingdom as a leader in these vital sectors.