Prince Talal International Prize for Human Development, carries a financial reward of US$ 1,000,000, awarded annually by the Arab Gulf Programme for Development (AGFUND) with the aim of inciting and encouraging innovation and creativity in human development. The idea of the Prize is stemmed from AGFUND’s approach to enhance development performance and support key development projects in order to achieve the goal of sustainability and investment in people.
Since its establishment in 1999, the prize has been known as AGFUND International Prize for Pioneering Human Development Projects. Following the passing away of His Royal Highness Prince Talal bin Abdul Aziz Al Saud, founder of AGFUND, in December 2018, the AGFUND’s Board of Directors decided to rename the prize after the late Prince Talal. This decision was taken to commemorate his lifelong dedication to the service of human development and poverty alleviation through AGFUND and the other institutions he established. Hence, the prize new name is “Prince Talal International Prize for Human Development”.
Idea of the Prize
Stemmed from AGFUND’s approach to enhance development performance and support key development projects, the overall objective behind the Prize idea is to contribute to the efforts aiming to achieve sustainability in development and investment in people.
In this sense, Prince Talal International Prize has become a leading mechanism to identify successful development projects, reward them and disseminate their innovative ideas to best contribute to the improvement of development work. It is also an innovative approach and a strategic instrument to exchange successful experiences to strengthen the mechanisms of development cooperation and project funding with special emphasis on the most prominent factors that militate against development and affect the vulnerable groups, particularly women and children in developing countries. These include poverty, social exclusion, socio-economic marginalization, education and health.
Prince Talal International Prize for Human Development aims to:
- Support the distinguished efforts aiming at the promotion and enhancement of human development concepts.
- Disseminate the successful project experiences.
- Highlight the best practices, which aim to improve the living conditions of the poor and disadvantaged with particular emphasis on women and children.
- Enhance the exchange of experiences and develop better mechanisms to find solutions to the problems of poverty, marginalization and socioeconomic exclusion of vulnerable groups.
The Prize shall be handed over to the heads of the winning organizations in an annual ceremony, to which representatives of the local and international development organizations located in the hosting country, development experts and specialists, diplomats, and media representatives are invited.
Amount and categories
Prince Talal International Prize for Human Development carries cash amount of US$ 1,000,000, certificates of recognition and trophies. The prize amount is allocated for the winners of the Prize in its four categories as follows;