DUBAI, Aug. 30 (Xinhua) -- The Emirates Foundation, a United Arab Emirates (UAE) philanthropic foundation, announced on Thursday the renewal of its partnership with British BP Exploration Operating Company Ltd, state news agency WAM reported.
The Emirates Foundation is set up by the government of Abu Dhabi, capital of the UAE, to facilitate public-private funded initiatives for the empowerment of youth across the Gulf state.
Its partnership with BP was established in 2005 and designed to support youth development programs throughout the UAE, a major oil supplier keen on reducing its dependence on oil through investments into education.
The extension agreement was signed by Maytha Al Habsi, CEO of Emirates Foundation, and Salem bin Ashoor, general manager and chief representative of BP.
Under the new agreement, BP will continue its support for the Emirates Foundation's overall program portfolio until the end of August 2019, particularly in the areas of Innovation and Science, Technology, Engineering and Mathematics (STEM).
"Our partnership with BP over the last decade has significantly contributed to shaping the Science and Technology ecosystem in the UAE, impacting the lives of hundreds of youths across the nation through their journey to pursue STEM as a field of study and career," said Habsi.
Ashoor also hailed the UAE foundation's continued contribution to "the nation's long-term progress and sustainability by empowering, inspiring and supporting the youth of the UAE to make a difference while facilitating positive social changes."
The UAE is home to branches of the majority of the Fortune 500 companies, according to the UAE Ministry of Economy, and many of them run programs with the UAE government to promote youth and education.
