Sheikh Mohammed bin Rashid al-Maktoum, the Ruler of Dubai, has pledged $10 billion (£5 billion) to a new foundation he is setting up. The Mohammed Bin Rashid Al Maktoum Foundation will focus on promoting human development in the region by funding education and knowledge development initiatives.
According to the BBC, the pledge, made at the World Economic Forum in Jordan, is “thought to be one of the largest charitable donations in history”.
The Foundation will be based in the United Arab Emirates and will “source and manage research programmes and centres and provide scholarships, leadership programmes and research grants”.
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