Made up of Saudi and international experts, the Board will support development of a vibrant local infrastructure financing ecosystem
Board to oversee development of innovative financing solutions to support growth of private sector investment
Riyadh, June 30 2024
The National Infrastructure Fund (Infra) has announced the appointment of its inaugural Board of Directors, a decision approved by the Board of the National Development Fund (NDF). The new Board, chaired by His Excellency Faisal F. Alibrahim, Minister of Economy and Planning, comprises distinguished Saudi and international experts who will oversee Infra’s mission to support the accelerated delivery of critical infrastructure projects in the Kingdom.
With a diverse and complementary mix of expertise across infrastructure finance, development, and delivery, the Board members include HE Nabeel Alamudi, CEO of Olayan Financing Company; HE Abdulaziz Alarifi, CEO of the Shareek Program; Stephen Paul Groff, Governor of NDF; Esmail Alsallom, CEO of Infra; Stephanie von Friedeburg, Managing Director of Banking and Capital Markets Advisory at Citigroup Inc. (formally the Chief Operating Officer at the World Bank Group and Vice President at the International Finance Corporation); and Marie Lam-Frendo, Chief Strategy Officer at Meridiam SAS, (formally CEO of the Global Infrastructure Hub and Head of Infrastructure Initiatives at the World Economic Forum).
The inauguration of the Board is a significant milestone for Infra and follows approval of the National Infrastructure Fund Law by Royal Decree earlier this year. The Board will work to ensure that Infra continues to provide innovative financial solutions to support higher levels of private sector investment over the long term and to deliver the infrastructure essential for the success of the nation’s transformative Vision 2030 agenda.
Since its inception, Infra has focused on activating its financing and investment activities to support the accelerated delivery of critical infrastructure projects in the Kingdom; and has made significant commitments to large-scale green hydrogen and solar power projects, through attracting and sustaining private sector investment across new and promising sectors.
