Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has unveiled a AED1.1 billion ($293 million) scholarship fund to support Emirati students.

The fund, which is in line with the Dubai Social Agenda 33, will be used to grant scholarships to 100 best-performing Emirati students every year in Dubai, the crown prince said on X, formerly Twitter.

“Strengthening the abilities [of] our youth is essential to fulfilling our future vision of a knowledge-based economy,” Hamdan said.

“By investing in Dubai’s youth today, we are paving the way for a prosperous and successful tomorrow.”

The beneficiaries of the fund include Emirati students looking to pursue higher education opportunities at “best-in-class” schools inside and outside the country, including prestigious universities.

The programme aims to facilitate scholarships to top academic institutions that align with Dubai’s workforce needs.

Early this month, Dubai launched a multibillion-dollar social welfare strategy that seeks to uplift living standards, promote social cohesion and values, enhance the quality of healthcare and education, as well as support skills development of citizens. Part of the goal is to double the number of Emirati families in ten years.

(Writing by Cleofe Maceda; editing by Seban Scaria)