RIYADH: Saudi Minister of Economy and Planning Faisal Al-Ibrahim has been named the new chairman of the National Infrastructure Fund, the Saudi Press Agency reported.
Presided over by Crown Prince Mohammed bin Salman, the appointment was made by the fund’s board of directors.
Al-Ibrahim emphasized the fund, also known as INFRA, will play a key role in reinforcing the objectives of Vision 2030, including increasing the private sector’s contribution to gross domestic product to 65 percent.
He highlighted its commitment to supporting the success of the Saudi Green Initiative by boosting projects essential for achieving the Kingdom’s 2060 net-zero emissions target.
The minister said: “INFRA’s strategy will chart a clear path toward crowding in higher levels of private-sector financing for infrastructure, through deploying a broad and flexible offering and supporting the Kingdom to become a key global investment destination for this important asset class.”
He added: “INFRA is an important enabler of the Kingdom’s goals of diversifying the economy, crowding in the private sector, creating new job opportunities, and attracting international investment and expertise.”
Besides his role as the minister of economy and planning, Al-Ibrahim also holds the position of the Council of Economic and Development Affairs Secretariat’s general supervisor, chairman of the General Authority for Statistics, member of the National Development Fund’s board of directors, and serves as a board member of various government entities.
Source: Arab News
