Vice President and Prime Minister of the United Arab Emirates Sheikh Mohammed on Saturday launched the "Mohammed Bin Rashid Al Maktoum Foundation", aiming at investing in education with an endowment of 10 billion U. S. dollars.

At the World Economic Forum on the Middle East which is held at the Dead Sea in Jordan, Sheikh Mohammed said that "the foundation's mission is to invest in knowledge and human development, focusing specifically on research, education and promoting equal opportunities for the personal growth and success of our youth."

"The foundation's programs are also aimed at enhancing the standing of scholars and intellectuals in the Arab world."

The foundation will manage a wide range of initiatives including the establishment of high-quality research programs and research centers, and the provision of scholarships to students to attend leading universities and institutes. It will also support research in universities across the region.

In addition, the foundation will provide leadership programs for youth in government, the private sector and in non- governmental organizations. Scholarships and research grants will also be given to authors and researchers in the region.

The foundation will be based in the United Arab Emirates and will implement its program later this year.

Source: Xinhua