(MENAFN- Emirates News Agency (WAM))
ABU DHABI, 17th March, 2022 (WAM) -- Building on the success of the ATMAH project, the region's first Social Impact Bonds, the Authority of Social Contribution (Ma'an) announced an AED4 million investment by Aldar to 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 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.
In the presence of Salama Al Ameemi, Director-General of Ma'an, Greg Fewer, Chief Finance and Sustainability Officer at Aldar Properties, and Faisal Al Hmoudi, Executive Director, Social Incubator and Contracting at Ma'an, signed a Memorandum of Understanding (MoU) 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'.
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.'
Meanwhile, 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.'
This ECA project aims to develop family counselling services in Abu Dhabi and enable the relevant authorities to support parents of children aged between 0 to 8 years old to mediate the challenges which may arise through family conflict.
ECA selected the startup that developed Tanfees, a mobile application that connects married couples with psychologists and marriage experts, to run the project. The app is among one of the winners of the third cycle of the Ma'an Social Incubator Programme in 2020 aimed to foster family cohesion.
At the time of this announcement, Ma'an and ECA have successfully completed the first two phases of the family counselling project. The first phase included developing the project's operational plan and sourcing the main project partners, and the second phase was to facilitate contractual agreements with service providers and the investors for the Social Impact Bonds. In the upcoming third phase, implementation of the project will commence and overseen by a steering committee.
Thamer Rashed Al Qasimi, Executive Director of Special Projects and Partnerships Sector at Abu Dhabi Early Childhood Authority, said, 'We are honoured to partner with Authority of Social Contribution – Ma'an and Aldar on a project that we hope will make a tremendous impact on improving the wellbeing of families, and especially, children, to ensure they have a flourishing and prosperous future.'
Part of the empowerment priority of the Abu Dhabi Social Support Authority, this programme is designed to equip Emiratis with essential professional skills to find suitable job opportunities and enable them to meet the growing job market demands.
Qasim Omar Al Hashemi, Director of the Empowerment Programs Department of the Abu Dhabi Social Support Authority, said, 'We are pleased to work closely with Ma'an and its investing partners within the Social Contracting scheme to provide the benefited community members with the needed skills that allow them to have rewarding job opportunities.'
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