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G20 Discusses Measures to Bridge Global Infrastructure Gap

G20 Discusses Measures to Bridge Global Infrastructure Gap

Friday, 20 December, 2019 - 13:15
First G20 Infrastructure Investment Symposium concludes in Riyadh | Asharq Al-Awsat

The G20 working groups discussed in Riyadh during the past two days measures to meet the needs of global infrastructure, stressing the need to mobilize private sector resources to bridge a $15 trillion global infrastructure gap.

The Saudi G20 Presidency had concluded a one-day symposium on infrastructure investment in the Kingdom’s capital, Riyadh.

The symposium was held on the sideline of the 1st Infrastructure Working Group meeting and brought together G20 member countries, international organizations, leading international and local asset managers and institutional investors to discuss tangible and practical solutions to the challenges that currently prevent or limit investment in infrastructure.

The overall objective of the symposium was to explore a potential partnership between the G20 Infrastructure Working Group (IWG) and asset managers and institutional investors to collectively promote infrastructure investment.

Fahad Al Dossari, deputy governor for research and international affairs at the Saudi Arabian Monetary Authority(SAMA), welcomed speakers and guests at the symposium event, highlighting in his opening remarks the importance of encouraging private sector investment in infrastructure to close the infrastructure financing gap and sating that the Saudi G20 Presidency will foster cooperation with the private sector to increase private investment and enhance the quality of infrastructure spending.

“This symposium will provide an important forum for G20 countries, international organizations, asset managers and institutional investors to put into motion a new collaborative model to continue efforts in promoting infrastructure as an asset class,” Dossari said.

The Global Infrastructure Hub (GIH) estimates a cumulative infrastructure financing gap of $15 trillion to meet adequate global infrastructure needs between now and 2040.

According to the World Bank, around one billion people worldwide live more than two kilometers away from a motorable road, and almost one billion lack access to electricity, while four billion lack access to the Internet. This highlights the importance of global action towards promoting infrastructure investment.

Under the Saudi G20 Presidency, the G20 Infrastructure Working Group will focus on both promoting private sector investment in infrastructure and exploring ways to utilize the benefits of technology for infrastructure to increase efficiency, value delivery, and sustainability of infrastructure investment.

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