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Hind Al Soulia - Riyadh - RIYADH — The Saudi G20 Presidency concluded a one-day symposium on infrastructure investment in the Kingdom’s capital, Riyadh here.
The symposium was held on the sideline of the 1st Infrastructure Working Group meeting, which took place the following days on Wednesday and Thursday in Riyadh.
The Symposium brought together G20 member countries, international organizations, leading international and local asset managers and institutional investors to discuss tangible and practical solutions to the challenges that currently prevent or limit private investment in infrastructure.
This symposium was also attended by relevant Saudi government entities to enrich and reflect the local content.
The overall objective of the symposium was to explore a potential partnership between the G20 Infrastructure Working Group (IWG) and asset managers and institutional investors to collectively promote infrastructure investment.
Dr. Fahad Al Dossari, deputy governor for research and international affairs at the Saudi Arabian Monetary Authority(SAMA), welcomed speakers and guests at the symposium event, highlighting in his opening remarks the importance of encouraging private sector investment in infrastructure to close the infrastructure financing gap and sating that the Saudi G20 Presidency will foster cooperation with the private sector to increase private investment and enhance the quality of infrastructure spending.
He added, “This symposium will provide an important forum for G20 countries, international organizations, asset managers and institutional investors to put into motion a new collaborative model to continue efforts in promoting infrastructure as an asset class.”
The Global Infrastructure Hub (GIH) estimates a cumulative infrastructure financing gap of $15 trillion to meet adequate global infrastructure needs between now and 2040.
According to the World Bank, around one billion people worldwide live more than two kilometers away from a motorable road, and almost one billion lack access to electricity, while four billion lack access to the Internet. This highlights the importance of global action towards promoting infrastructure investment.
Under the Saudi G20 Presidency, the G20 Infrastructure Working Group will focus on both promoting private sector investment in infrastructure and exploring ways to utilize the benefit of technology for infrastructure to increase efficiency, value delivery, and sustainability of infrastructure investment. — SG
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