AED 2 million allocated to help fund new social entrepreneurs.

In-kind support to also be provided.

The Emirates Foundation for Philanthropy announced today that Mubadala, the strategic investment and development company, has agreed to provide financial and in-kind support to their new Civil Society Initiative.

The Civil Society Initiative is intended to encourage Emirati social entrepreneurs to lead new projects in fields such as education, community development, environmental sustainability and public awareness, and to drive citizen participation to enrich the fabric of national civil society.

This support comes within the framework of the cooperation agreement to support the Emirates Foundation’s Social Development programme, which was signed recently between the two parties. The agreement was signed by Peter Cleaves, CEO of the Emirates Foundation for Philanthropy, and Kate Triggs, Executive Director of Group Communications, on behalf of Mubadala.

The agreement includes a donation of AED 2 million to help finance Emirates Foundation grants as well as Mubadala’s active participation in the evaluation and selection of applications and proposed projects submitted for grant approval.

“We are very pleased to be partnering with the Emirates Foundation to help develop a new generation of social entrepreneurs,” said Khaldoon Khalifa Al Mubarak, CEO and Managing Director of Mubadala Development Company. “These initiatives will play an important role in the sustainable development of the Emirate by allowing citizens to help communities and families throughout the UAE.”

Peter Cleaves, CEO of Emirates Foundation, said: “This generous donation will be used to finance the next round of the Emirates Foundation Grant Competition to promote social entrepreneurship. Emiratis with a plan to design an initiative that addresses pending needs in the country – and who approach the challenge with enthusiasm – are invited to submit applications for financial and technical support.”

Mubadala Development Company has collaborated with the Emirates Foundation since its establishment in 2005. Mubadala has supported the Foundation’s Italy scholarship programme, Summer Science in the Malls, and the Tawteen programme, an initiative that helps young Emiratis to identify career pathways in the private sector.

About the Emirates Foundation for Philanthropy

The Emirates Foundation is one of the UAE’s foremost philanthropic organizations. It offers financial and technical support to projects that enrich the lives of people in the Emirates, particularly in the areas of youth development, knowledge creation, and society and culture.

The Foundation facilitates links between commercial businesses and the public sector to devise new projects and strengthen existing nonprofit initiatives throughout the country. Its funding comes from programme-related contributions and a capital reserve supported by private companies and the Abu Dhabi government.

Launched on April 12, 2005 by HH Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, its Board of Directors is chaired by HH Sheikh Abdullah Bin Zayed Al Nahyan, UAE Minister of Foreign Affairs.

About Mubadala Development Company

Mubadala Development Company (Mubadala) is a catalyst for the economic diversification of Abu Dhabi. Established and owned by the Government of Abu Dhabi, the company’s strategy is built on the creation of partnerships and on long-term, capital-intensive investments that deliver strong financial returns and tangible social benefits for the Emirate of Abu Dhabi, and that contribute to the growth and diversification of its economy.

Mubadala brings together and manages a multi-billion dollar portfolio of local, regional and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors. These include aerospace, energy, healthcare, information communications and technology, infrastructure, real estate and hospitality, and services ventures. For more information about Mubadala please visit http://www.mubadala.ae

For more information, please contact:

Abdullah Bani Ali
Tel: +971 2 404 2814
abaniali@emiratesfoundation.ae

Or

Ravi N Moorthy
Tel: +971 56 613 9220
rmoorthy@mubadala.ae