October 2022

The Saudi British Bank (SABB) and the Private Vegetation Development Foundation “Morooj” have signed a joint agreement to implement the "National Environmental Afforestation Initiative", which aims to plant 1 million trees across the Kingdom under the supervision of the Ministry of Environment, Water and Agriculture and the National Center for Vegetation Cover and Combating Desertification to help achieve the Saudi green initiative’s goals and objectives.

The agreement was signed by Mr. Tony Cripps, CEO and Managing Director of SABB, and Eng. Wael Bousheh, CEO of the Vegetation Development Corporation "Morooj", in the presence of a number of senior executives from both parties.

The two parties have agreed to launch the Kingdom's greatest environmental project at the finance sector level. Morooj Foundation, the executive arm of the National Center for Vegetation Cover and Combating Desertification will lead the implementation of the SABB-led initiative to contribute to the achievement of the Saudi Green Initiative's objectives, covering all of the initiative's financial costs in the amount of 46 million Saudi riyals.

Mr. Tony Cripps stated on this occasion, “I would like to take this opportunity to commend the Kingdom's pioneering position in tackling environmental challenges.” “We are extremely proud of the critical role we play in environmental sustainability and preservation and of the launch of this great initiative to promote sustainable development to meet the Saudi Green Initiative's goals.” he added, “We would like to thank the Morooj Foundation for welcoming and engaging with us, and for expressing their readiness to contribute their expertise and efforts to this initiative. “

Eng. Wael Bousheh, stated: "This agreement falls within the framework of the Foundation's efforts to strengthen collaboration with various institutions in the public and private sectors in order to achieve the goals of the Saudi Green Initiative, particularly given the strong community interaction and desire to participate in this national initiative. We are happy to offer all forms of aid and support for any activities targeted at increasing vegetation cover and improving environmental efforts in accordance with the Kingdom's Vision 2030. We would like to thank the Saudi British Bank for introducing this program, which will directly benefit environmental protection and quality of life."

The "Morooj" Foundation is a non-profit governmental corporation founded as the executive arm of the National Center for the Development of Vegetation Cover and Combating Desertification by the Ministry of Environment, Water, and Agriculture. This effort brought together "SABB" and "Morooj" due to the two parties' shared interest in environmental preservation, as SABB prioritizes initiatives that promote sustainability and places environmental and community activities at the heart of its strategy.