The Saudi G20 Presidency concluded a one-daysymposium on infrastructure investment in the Kingdom's capital, Riyadh on 17December. The Symposium was held on the sideline of the 1st InfrastructureWorking Group meeting, which took place the following days on December 18-19,2019 in Riyadh.
The Symposium brought together G20 membercountries, international organizations, leading international and local assetmanagers and institutional investors to discuss tangible and practicalsolutions to the challenges that currently prevent or limit private investmentin infrastructure. This symposium was also attended by relevant Saudigovernment entities to enrich and reflect the local content.
The overall objective of the symposium was toexplore a potential partnership between the G20 Infrastructure Working Group(IWG) and asset managers and institutional investors to collectively promoteinfrastructure investment.
Dr. Fahad Al Dossari, Deputy Governor forResearch and International Affairs at the Saudi Arabian Monetary Authority,welcomed speakers and guests at the symposium event, highlighting in hisopening remarks the importance of encouraging private sector investment ininfrastructure to close the infrastructure financing gap and sating that theSaudi G20 Presidency will foster cooperation with the private sector toincrease 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 putinto motion a new collaborative model to continue efforts in promotinginfrastructure as an asset class."
The Global Infrastructure Hub (GIH) estimates acumulative infrastructure financing gap of USD15 trillion to meet adequateglobal infrastructure needs between now and 2040. According to the World Bank,around one billion people worldwide live more than two kilometres away from amotorable road, and almost one billion lack access to electricity, while fourbillion lack access to the internet. This highlights the importance of globalaction towards promoting infrastructure investment.
Under the Saudi G20 Presidency, the G20Infrastructure Working Group will focus on both promoting private sectorinvestment in infrastructure and exploring ways to utilize the benefit oftechnology for infrastructure to increase efficiency, value delivery, andsustainability of infrastructure investment."
Further information about the G20, includingthe Presidency Agenda and full program of events.