Dubai has launched a global foundation, with an initial budget of AED1 billion ($272 million), which aims to combat poverty, unemployment and education challenges in the region.

The Mohammad Bin Rashid Al Maktoum Global Initiatives will bring together the work or 28 organizations under one umbrella body. The program will co-ordinate over 1,400 human development programs in more than 116 countries around the world.

“The world today is facing great challenges on all levels; in terrorism, wars and mass immigration and the only solution lies in human development which can be achieved by educating people and helping them build their future,” Sheikh Mohammed said launching the new foundation.

The foundation will have four key objectives: spreading knowledge, combating poverty, empowering communities and encouraging innovation for the future. The Dubai Media Office on Sunday issued the list of objectives and goals which the foundation is aiming to achieve by 2025:

– Print and distribute 10 million books

– Provide educational support for 20 million children

– Invest AED1.5 billion in education and knowledge projects

– Provide 500 million books to students for reading

– 30 million people to be treated for blindness and eye diseases

– Two million households to be provided with support

– AED2 billion to be invested in the establishment of research centres and hospitals

– AED500 million to be invested in water research in the region

– 5,000 innovators to be supported and incubated across the region

– AED5.5 billion to be invested in innovation and creating incubators

– 500,000 new job opportunities to be created

– 50,000 young entrepreneurs to be trained and supported

– One million participants to take part in awards and forums to help empower communities

– AED150 million to be awarded to encourage creatives, intellectuals and journalists

– 25,000 books to be translated into Arabic

– AED600 million to be invested to promote a culture of tolerance