Abu Dhabi-headquartered real estate development, management, and investment firm, Aldar has invested $1.08 million (AED 4 million) in two social contracting project within the Authority of Social Contribution – Ma’an.
Founded by the Department of Community Development Abu Dhabi, the Authority of Social Contribution – Ma’an, brings together the government, private sector, and the civil society to support innovative solutions and contribute to the development of strong, active, collaborative, and inclusive communities.
The new social investment contributions include $735,000 (AED 2.7 million) for a family counselling services project by the Abu Dhabi Early Childhood Authority (ECA), as well as an allocation of $353,900 (AED1.3 million) to support the beneficiaries of the Abu Dhabi Social Support Authority’s Programme for Upskilling and Employment of Emiratis, which aims to enhance career opportunities for the Emirati workforce.
Additionally, another $272,250 (AED 1 million) will be contributed by prominent businessman, Dr Abdulkader Sankari, the founder of the Sankari Fashion & Investment Group to the Abu Dhabi Social Support Authority’s Programme for Upskilling and Employment of Emiratis
The chief finance and sustainability officer for Aldar, Greg Fewer, and the executive director for the Social Incubator and Contracting at Ma’an, Faisal AlHmoudi, signed a memorandum of understanding (MoU) to formalise Aldar’s contributions towards the new projects.
The agreements were signed in the presence of the director-general of Ma’an, Salama Al Ameemi.
Faisal AlHmoudi said: “At Ma’an, we continue our diligent efforts to develop strategic partnership programmes that bring together government, the private sector and civil society to deliver lasting, sustainable impact for the Abu Dhabi community.
“To this end, we ensure strong foundations are in place along with sustainable financial support to enable the community to address the complex social challenges.”
Highlighting the importance of such partnerships with Ma’an, Dr Abdulkader 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.”
Greg 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. These contributions articulate Aldar’s responsibility towards our wider community, by helping to shape the communities towards a brighter future.”
Abu Dhabi Aldar
Greg Fewer, chief finance and sustainability officer for Aldar
ECA’s Family Counselling Services Project
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 of age 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.
Currently, 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.
The executive director of Special Projects and Partnerships Sector at the Abu Dhabi Early Childhood Authority, Eng Thamer Rashed Al Qasimi, said: “Addressing and raising awareness about the familial needs of our society is an essential part of our mission at the Abu Dhabi Childhood Authority.
“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 well-being of families, and especially, children, to ensure they have a flourishing and prosperous future.”
abu dhabi ma'an
Salama Al Ameemi, director-general of Ma’an
The Programme for Upskilling and Employment
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.
The Director of the Empowerment Programs Department of the Abu Dhabi Social Support Authority, Eng Qasim Omar Al-Hashemi, said: “This strategic collaboration reflects the Abu Dhabi Social Support Authority’s keenness to empower the families of the benefited individuals. 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.
“Such projects will play a vital role in enhancing the beneficiaries’ quality of life and help them achieve the sustainable financial independence.”
Dr Abdulkader Sankari added: “It is imperative to step up collaboration among all stakeholders in society to tackle social challenges and ensure a better future for all.
“Social Impact Bonds operates on pay-for-success basis between public sector entities and private sector investors, who finance social interventions up front to solve social challenges in exchange for future payouts. The government pays back the investor after the outcomes are achieved.”
In 2020, the Department of Community Development (DCD), Ma’an, Aldar Education, Aldar Properties, and the Zayed Higher Organisation for People of Determination (ZHO) piloted the first contract of Social Impact Bonds, ATMAH to support the employment of People of Determination.
Abu Dhabi is the first across the region to introduce this innovative funding mechanism for social services.
Social Impact Bonds are an internationally established and successful way to finance the delivery of public service, involving the government, a social service provider, and a social investor using multi-party partnerships to promote collaboration among the organisations to solve social challenges.