Madinah Gov. Prince Faisal bin Salman has launched an educational endowment initiative, the SR200 million Madinah International Academy, and the Madinah educational endowment worth SR500 million.
The governor launched the two projects while opening an educational forum that aims at improving the quality of private and foreign education and wooing more investment in the vital sector. Speaking at the forum, Deputy Education Minister Hamad bin Mohammed Al-Asheikh commended the Saudi leadership for its efforts to promote education in the Kingdom and provide students with modern education facilities.
“Private education is a vital addition to public education,” he pointed out. Al-Asheikh praised the Madinah forum for discussing important topics toward improving the quality of education at private and international schools. During the forum, Prince Faisal witnessed the signing of a number of investment projects in the education sector. The governor also received a memento from the deputy minister to mark the occasion.
Prince Faisal contributed SR5 million to the endowment project while Binladen Group gave SR30 million, a group of businessmen and philanthropists contributed SR25 million, SABIC SR20 million, NCB SR15 million, Abdul Qader Al-Tazi’s heirs SR15 million and Sunbulah Co. SR5 million. The SR200 million international academy will be established on an area of 100,000 square meters while the SR500 million endowment will be used to develop the facility, which will provide a distinguished educational environment for students.
The academy will have a capacity to accommodate 1,600 students including girls and provide education from nursery level to Class XII. “It will present an educational vision focusing on students, parents and teachers,” an official statement said, adding that the academy would work for developing the region’s educational infrastructure.