Prince Abdulaziz bin Abdullah bin Abdulaziz, Advisor to the King, President of One Hundred-Fund and Chairman of the Fund's Board of Trustees announced the launching of a new initiative to provide SR 150 million as an additional support for the Fund, noting that the initiative aims at supporting male and female youths to set up private businesses to serve transfromative industries in the Kingdom. In his speech marking the ceremony of launching the Fund's initiative for inventors organized by General Authority of Investment, he thanked Prince Saud bin Abdullah bin Thinayyan Al Saud, Chairman of Jubail and Yanbu Royal Commission and Chairman of Board of Directors of Saudi Basic Industries Corporation (SABIC) for the corporation's donation of SR 80 million to the Fund which is considered the largest cash donation on the spot from one company in the private sector. Prince Abdulaziz bin Abdullah bin Abdulaziz received a check of the donated sum of SR 80 million from Prince Saud bin Abdullah bin Thinayyan Al Saud. Then Prince Abdulaziz bin Abdullah bin Abdulaziz signed a memorandum of understanding with Chairman of Board of Directors of National Commercial Bank Abdullah Bahamdan in which the Bank provides credit means and lines with a sum of SR 70 million for the Fund in accordance with the rules of Islamic Sharia.
