Riyadh Newspaper | The Saudi Investment Recycling Company discusses leadership of the circular economy with the Saudi National Bank

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As part of its contribution to achieving the goals of the programs and initiatives of the Kingdom’s Vision 2030…

The Saudi Investment Recycling Company discusses leadership of the circular economy with the Saudi National Bank

The Saudi Investment Recycling Company (Sark) and the Saudi National Bank organized a virtual forum entitled “Vision Aspirations in the Kingdom’s Leadership in a Circular Economy”, which resulted in a set of initiatives, the most prominent of which was the financial initiative called “Green Finance” through which it provides facilities worth One billion Saudi riyals enables SRC to acquire one of the largest solid, liquid and gaseous industrial waste treatment companies.

The CEO of the Saudi Investment Recycling Company “Sark”, Eng. Ziad Al-Shiha, and the Chairman of the Board of Directors of the National Bank of Saudi Arabia, Mr. Ammar Al-Khudairi, participated in the meeting.

The meeting between the National Bank of Saudi Arabia and CIRC is part of a series of events that support the programs and initiatives of the Kingdom’s Vision 2030 and its ambitious projects. The forum also reviewed the effective partnership between the bank and the company and the adoption of a set of initiatives and ideas worthy of study within the strenuous efforts made by the Kingdom to enhance the concept of a circular economy, and achieve the objectives of the “Green Saudi Arabia” initiative.

For his part, the CEO of the Saudi Investment Recycling Company “Sirk” Eng. Ziad Al-Shiha expressed during the meeting his thanks and appreciation to the National Bank of Saudi Arabia for organizing this platform, as it provided a vital space to review the prospects and aspirations of the company, and the innovative concepts it establishes for waste management activity and practices It is consistent with the pioneering bank in launching what is known as green finance, based on enhancing support for environmental investment projects, and the bank’s effective financing contribution, which resulted in enabling the company to acquire one of the largest industrial waste treatment companies.

For his part, the Chairman of the Board of Directors of the National Bank of Saudi Arabia, Mr. Ammar Al-Khudairi, reiterated the bank’s keenness to organize these dialogue platforms in parallel with its initiatives directed at supporting the qualitative and strategic projects emanating from Vision 2030, considering that the bank attaches advanced importance to compatibility with the requirements of the circular economy through what It provides support and financing for environmental and sustainable development projects, as well as its commitment to the Regulations on Social, Environmental and Governance Standards that establish the concept of sustainability.

The forum dealt with the importance of strengthening strategic partnerships between promising projects led by the Public Investment Fund and between private sector institutions, specifically financing agencies, for the purpose of achieving the aspirations of those projects, which are among the main pillars of achieving comprehensive targeted development.

The forum was attended by local and international investors, economists, environmental experts and strategists. The forum also shed light on the hoped role of the Saudi Investment Recycling Company (SIRAC) in attracting clean technologies for the purpose of improving the environment in the Kingdom and developing the waste treatment industry, in line with the vision of The Kingdom aims to raise the rate of diversion of waste from landfills to 94% by 2035.

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