Leading players in the construction and industrial sectors discussed the major challenges and potential solutions faced by the world in securing infrastructure investments at the G20 Finance Track, the Fourth Infrastructure Working Group (IWG) meeting.
Discussions at the meeting, which was held virtually, also involved efforts of the G20 members to bridge the infrastructure investment gap, which promotes the recovery and growth of the global economy.
Addressing the members, Ali Sharafi, Director of the Budget Department at UAE Ministry of Finance took part in the G20 Finance Track IWG meeting.
He reaffirmed the UAE’s determination to continue supporting international efforts to mitigate the repercussions of the Covid-19 pandemic, by promoting investment in infrastructure.
The ministry also highlighted the importance of bridging the data gap for advancing the G20 Roadmap to Infrastructure as an Asset Class.
It also emphasised restoring investor confidence through facilitating possible exchange of knowledge on different government incentive programmes on infrastructure investments, as well as leveraging project data, to display the availability of infrastructure deals on a global and local scale.
At the meeting, Sharafi stressed on the importance of deploying digitally enabled investments and financial innovation solutions to spur quality investments and support the inclusion of smaller market-players.
He also highlighted the need for creation of a ‘readiness for crisis and emergencies’ indicator, in order to promote the infrastructure flexibility to combat crises.
Additionally, the Ministry called for promoting new forms of investments and particularly those involving non-banking financial institutions in infrastructure financing.
During the meeting, the members discussed the IWG contribution to the G20 Action Plan building on the G20 Infrastructure efforts to increase the resilience of infrastructure against risks and promote quality infrastructure investments.-TradeArabia News Service