Saudi Arabia's National Infrastructure Fund (Infra) has appointed its first-ever board of directors, following the go-ahead from the National Development Fund (NDF) Board.

 

The new board, chaired by Minister of Economy and Planning Faisal F. Alibrahim, consists of renowned Saudi and international experts with a diverse and complementary mix of expertise across infrastructure finance, development, and delivery, said a statement from Infra.

 

The members include the CEO of Olayan Financing Company, Nabeel Alamudi, CEO of the Shareek Program Abdulaziz Alarifi, Governor of NDF Stephen Paul Groff, CEO of Infra Esmail Alsallom, Managing Director of Banking and Capital Markets Advisory at Citigroup Stephanie von Friedeburg (formally the Chief Operating Officer at the World Bank Group and Vice President at the International Finance Corporation), and Chief Strategy Officer at Meridiam SAS Marie Lam-Frendo (formally CEO of the Global Infrastructure Hub and Head of Infrastructure Initiatives at the World Economic Forum).

 

The new board will oversee Infra’s efforts to expedite the implementation of vital infrastructure projects in the kingdom, it stated.

 

The new board is a significant milestone for Infra and follows the approval of the National Infrastructure Fund Law by Royal Decree earlier this year. 

 

The board will work to ensure that Infra continues to provide innovative financial solutions to support higher levels of private sector investment over the long term and to deliver the infrastructure essential for the success of the nation’s transformative Vision 2030 agenda, said the statement from the company.

 

Since its inception, Infra has focused on activating its financing and investment activities to support the accelerated delivery of critical infrastructure projects in the kingdom. 

 

It has made significant commitments to large-scale green hydrogen and solar power projects by attracting and sustaining private-sector investment, it added.-TradeArabia News Service