On May 19, 2007, Mohammed bin Rashid Al Maktoum, vice president of the UAE and ruler of Dubai, announced his plans to give 10 billion USD to set up the Mohammed bin Rashid Al Maktoum Foundation, an educational foundation in the Middle East. This was one of the largest charitable donations in history. Sheikh Mohammed stated that the money is meant to bridge the knowledge gap between the Arab region and the developed world, improving the standard of education and research in the region, developing leadership programs for youth, and stimulating job creation. The announcement was made at the 2007 World Economic Forum in Jordan. The foundation funds in three areas: Culture, Entrepreneurship and Employment; and Knowledge and Education.
Rima Khalaf (Under-Secretary-General and Executive Secretary, ESCWA and former Jordanian Deputy Prime Minister and Minister of Planning (1999–2000) served in 2008-9 as the Chief Executive Officer of the Foundation. As of 2012, the chairman of the foundation was His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum (Sheikh Mohammed's son) and the CEO was Sultan Ali Rashid Lootah.
Activities
In 2008, the foundation pledged 100,000 books to children in the Arab world, and grants to writers of children's books.
As of 2009, the foundation signed memorandums of understanding with 28 universities (including top ones like Harvard University and Columbia University) which give the fellows of the foundation access to these universities. In 2008, it launched a program which stimulated translation of literary works into Arab language.
In 2009, the foundation was setting up a book fair which was a "potential rival" to Bologna Children's Book Fair.
In 2010, the organization assisted with flood relief in Pakistan.
In 2012, the organization organized a seminar in Paris to discuss the second Arab Knowledge Report, which was published in collaboration with the United Nations Development Programme; in attendance was Irina Bokova, Director-General of UNESCO.
In 2013 the foundation participated in a young engineers conference in Kuwait.
In December 2014, the Foundation bestowed their inaugural "Knowledge Award" to Sir Tim Berners-Lee and Jimmy Wales. Each will share in the US$1 million cash prize.