HSH Prince Albert II of Monaco has signed a framework agreement with Saudi Minister of Culture, His Highness Prince Badr bin Abdullah Al Saud. The agreement of shared interests and objectives regarding sustainable development and conservation is between the Prince Albert II of Monaco Foundation and the Red Sea Collection.

The Saudi prince’s Red Sea Collection recently sponsored the Monte-Carlo Gala for the Global Ocean, which last year raised more than $14 million for the Foundation’s marine conservation initiatives. The agreement was signed during the event.

The agreement will pave the way for an exchange of information and expertise to help safeguard marine biodiversity and protect coral reefs, as well as combat the growing problem of plastic pollution.

His Highness Prince Badr bin Abdullah Al Saud said: “This agreement underlines our commitment to create the most innovative, sustainable and forward-thinking projects for Saudi Arabia. The pristine coral reefs, thriving marine life and untouched landscapes are what make this region so special, and The Red Sea Collection is committed to ensuring these features are given the utmost protection.”