UNESCO"s Executive Board on Wednesday approved the creation of a new prize to promote the achievements of young people that are conducive to socio-economic transformation and development on a global scale. Saudi Arabia"s Al-Fozan Foundation, with the support of the permanent delegation of Saudi Arabia to UNESCO, launched the global award aimed at encouraging young talents in the fields of science, technology, engineering and mathematics (STEM). The UNESCO-Al Fozan International Prize for the Promotion of Young Scientists in Science, Technology, Engineering and Mathematics (STEM) will be awarded every two years, starting in 2022, to five laureates from the five geographic regions of UNESCO. The first global award in UNESCO offered by Saudi Arabia, it will nurture and encourage youth participation in STEM, in particular women and girls, so as to promote gender equality, scientific literacy and the choice of a scientific career. The Prize consists of an award of $50,000 for each of the five laureates, who will also receive a medal and a diploma. Five Jurors of world-renowned experts in the fields of science, technology, engineering, and mathematics, oversees the award with a total prize of $250,000. — SG/SPA