National Infrastructure Fund Unveils Board With Saudi And Global Experts

The National Infrastructure Fund (Infra) has announced the formation of its inaugural Board of Directors, approved by the National Development Fund (NDF) Board. This new board, led by Minister of Economy and Planning Faisal F. Alibrahim, comprises distinguished Saudi and international experts. Their role is to expedite crucial infrastructure projects in the Kingdom.

The board members bring a diverse range of expertise in infrastructure finance, development, and delivery. Notable members include Nabeel Alamudi, CEO of Olayan Financing Company; Abdulaziz Alarifi, CEO of the Shareek Program; Stephen Paul Groff, Governor of NDF; Esmail Alsallom, CEO of Infra; Stephanie von Friedeburg from Citigroup Inc.; and Marie Lam-Frendo from Meridiam SAS.

According to the press release, this board's establishment marks a significant milestone for Infra. It follows the Royal Decree's approval of the National Infrastructure Fund Law earlier this year. The board aims to ensure Infra continues providing innovative financial solutions to boost private sector investment over the long term.

Since its inception, Infra has concentrated on activating its financing and investment activities. This focus supports the accelerated delivery of critical infrastructure projects within the Kingdom. The fund has committed significantly to large-scale green hydrogen and solar power projects by attracting and sustaining private-sector investment.

The board will oversee Infra’s efforts to deliver essential infrastructure for the success of Saudi Arabia’s transformative Vision 2030 agenda. Their goal is to support higher levels of private sector investment through innovative financial solutions.

Minister Faisal F. Alibrahim chairs this newly formed board, which includes prominent figures such as Nabeel Alamudi and Abdulaziz Alarifi. Their combined expertise is expected to drive forward vital infrastructure initiatives in Saudi Arabia.

Stephen Paul Groff, Governor of NDF, along with Esmail Alsallom, CEO of Infra, are key members who will contribute their extensive experience in infrastructure finance and development.

Stephanie von Friedeburg brings her experience from Citigroup Inc., while Marie Lam-Frendo adds her insights from Meridiam SAS. Both have held significant roles in global infrastructure organisations.

This diverse mix ensures that Infra can effectively support the Kingdom’s ambitious infrastructure goals under Vision 2030. The board's collective expertise will be crucial in navigating complex projects and securing necessary investments.

The inauguration of this board signifies a pivotal step for Infra as it continues its mission to enhance Saudi Arabia's infrastructure landscape through strategic investments and partnerships.

With inputs from SPA