Saudi Arabia's National Infrastructure Fund (Infra) has signed a co-operation agreement with International Finance Corporation (IFC) to offer joint advisory services for infrastructure transactions in the kingdom.
This collaboration will leverage the two institutions' complementary expertise, with a focus on greenfield, brownfield, and capital markets transactions.
The Infra-IFC partnership will provide structuring and transaction advice to support the growth of private sector participation in Saudi Arabia’s high-growth infrastructure market, including sectors such as energy and energy transition, water, transport and logistics, waste management, health and education, and communications and digital infrastructure, said a statement from Infra.
The MoU was inked in the presence of Minister of Economy and Planning Faisal Alibrahim and Chairman of the National Infrastructure Fund and IFC Managing Director Makhtar Diop.
The partnership will enhance Infra’s ability to integrate advisory services with its strategic financing capabilities, accelerating outcomes for high-priority infrastructure needs.
The arrangement will also draw on IFC’s global experience and innovative financing strategies across multiple sectors, it added.
Infra CEO Engineer Esmail Alsallom said: "Our partnership with IFC is an important step in expanding Infra’s offerings. The integration of advisory services with Infra’s flexible financing solutions will play a key role in increasing opportunities for institutional and foreign investment."
"We are delighted to be partnering with IFC to boost private sector investment, which is crucial to the success of Saudi Arabia’s transformative Vision 2030 agenda," he added.
IFC Managing Director Makhtar Diop said: "With this agreement, we reaffirm our commitment to supporting Saudi Arabia’s Vision 2030, which aims to increase private sector participation and diversify the economy. This sends a strong signal to the global business community to invest in transformative infrastructure projects in the kingdom."
"Private sector engagement can unlock a new era of growth and prosperity for Saudi Arabia, and at IFC, we want to make that happen," he added.-TradeArabia News Service