Building on the success of the ATMAH project, the region's first Social Impact Bonds, the Authority of Social Contribution - Ma’an has announced a AED4 million ($1.08 million) investment by leading developer Aldar that will be allocated to two social contracting projects. 

 

The new social investment contributions include AED2.7 million for family counselling services project by the Abu Dhabi Early Childhood Authority (ECA); and AED1.3 million to support the beneficiaries of Abu Dhabi Social Support Authority’s Programme for Upskilling and Employment of Emiratis that aims to enhance career opportunities for Emirati workforce. 

 

Additionally, another AED1 million will be contributed by the prominent businessman, Dr Abdulkader Sankari, Founder of Sankari Fashion & Investment Group towards Abu Dhabi Social Support Authority’s Programme for Upskilling and Employment of Emiratis.

 

Greg Fewer, Chief Finance and Sustainability Officer at Aldar, and Faisal Al Hmoudi, Executive Director, Social Incubator and Contracting at Ma’an signed a MoU in the presence of Salama Al Ameemi, Director General of Ma'an, to formalise Aldar’s contributions towards the new projects. 

 

The signing took place at the 2022 edition of the ‘Exchange’, a space especially designed to educate and empower the Abu Dhabi community and inspire individuals to join the efforts to address social priorities. 

 

The theme of this year’s ‘Exchange’ is ‘Collaborate for Good’. Located at The Galleria, Abu Dhabi the social innovation space is open to the public until March 29.  

 

Al Hmoudi said: "At Ma’an, we continue our diligent efforts to develop strategic partnership programmes that bring together government, the private sector and civil society to deliver lasting, sustainable impact for the Abu Dhabi community."

 

"To this end, we ensure strong foundations are in place along with sustainable financial support to enable the community to address the complex social challenges," he added.

 

Highlighting the importance of such partnerships with Ma’an, Dr Sankari said: "Initiatives like the Social Impact Bonds provide opportunities for the private sector to play an integral role to support the Abu Dhabi Government’s efforts to address social priorities."

 

"It allows those such as myself and companies like Aldar to support Ma’an’s vision and mission to drive social innovation and inculcate a culture of philanthropy to drive positive social impact," he added. 

 

Fewer said: "We continue to be proud of the work and collaboration with Ma’an, having been one of the first contributors to the Social Impact Bonds programme in 2020. Our latest partnership alongside the ECA and Abu Dhabi Social Support Authority is another great example of how the public and private sectors can work together to solve social challenges."

 

"These contributions articulate Aldar’s responsibility towards our wider community, by helping to shape the communities towards a brighter future," he added.-TradeArabia News Service