MoU Between Riyad Bank and the National Center for Vegetation Development to Support Saudi Green Initiative
As part of its continuous efforts to support environmental sustainability, and in aligning with the Saudi Green Initiative Day on the 27th of March, Riyad Bank, represented by the Bank's Social Responsibility program “Bukrah”, signed a memorandum of understanding with the National Center for Vegetation Cover Development and Combating Desertification, to plant 4 million trees in the next ten years in um Al-Shaquq Reserve in Thadiq Governorate. The step is meant to enhance the bank's contribution to the "Green Saudi Arabia" initiative.
The agreement includes a series of cooperation tracks between the two sides in the field of afforestation, environmental awareness, combating desertification, supporting environmental sustainability, developing vegetation cover, and supporting the strategic plan of the "Saudi Green Initiative", through the "Bokra Nursery" established by Riyad Bank as an incubator for agricultural seedlings necessary to meet the needs of the initiative to plant 4 million trees through its multiple stages, in addition to establishing an environmental camp and exhibition for the purpose of raising awareness and presenting the initiative's efforts based entirely on renewable energy.
The memorandum revealed that the National Center for Vegetation Cover Development and Combating Desertification, as the supervisor of vegetation cover and combating desertification in the Kingdom, will provide technical support and supervise the implementation of initiatives, under the memorandum that will continue until 2030. Riyad Bank will finance initiatives, lead logistical efforts, and provide marketing and media support for initiatives.
The "Bokra Nursery", located in um Shaquq Park in Thadiq Governorate, has a production capacity of 400,000 seedlings annually and works entirely with solar energy in parallel. To achieve the goal of reaching 4 million seedlings, Riyad Bank launched "Al Hilal Goal" initiative, “Tree for tomorrow" in cooperation with Al Hilal Charity Foundation with the aim of planting 100 trees for every goal scored by Al Hilal Football team in the Roshn League. The initial plan aims to plant approximately 6,400 trees by March.