The prince said in a statement that the “philanthropic pledge will help build bridges to foster cultural understanding, develop communities, empower women, enable youth, provide vital disaster relief and create a more tolerant and accepting world.”
He said the donation “will be allocated according to a well-devised plan throughout the coming years” but stressed there was no time limit on when the donation would be spent.
The magnate belongs to the Saudi royal family and is a nephew of king Abdullah, who died on 23 January."
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