Infra and IFC Sign Cooperation Memorandum to Enhance Infrastructure Advisory Services in KSA
Infra and IFC sign a cooperation memorandum to provide joint advisory services for Saudi infrastructure projects, boosting private-sector investment and Vision 2030 goals.
October 29, 2024
In the presence of His Excellency Faisal F. Alibrahim, Minister of Economy and Planning, and Chairman of the National Infrastructure Fund, and Managing Director of the International Finance Corporation (IFC), Makhtar Diop, The National Infrastructure Fund (Infra) and the International Finance Corporation today, signed a Cooperation Memorandum focused on offering joint advisory services for infrastructure transactions in the Kingdom of Saudi Arabia (KSA).
This collaboration will build on the two institutions’ complementary expertise, specifically focusing on greenfield, brownfield, and capital markets transactions. The Infra-IFC partnership will deliver structuring and transaction advice to support the continued growth of private sector participation across KSA’s high-growth infrastructure market, including sectors such as energy and energy transition, water, transport and logistics, waste management, health and education, communications and digital infrastructure amongst others.
The partnership will strengthen Infra’s ability to combine advice with its strategic financing capability and support accelerated outcomes for high-priority infrastructure needs. The arrangement will leverage IFC’s global track record of innovation across multiple sectors and financing strategies.
Eng. Esmail Alsallom, CEO of Infra, commented that “Our partnership with IFC is an important step in expanding Infra’s offering. The integration of advice with Infra’s flexible financing solutions will play an important role in expanding the opportunities for institutional and foreign investment. We are delighted to be partnering with IFC to support higher levels of private sector investment which is critical to the success of KSA’s transformative Vision 2030 agenda.”
IFC’s Managing Director Makhtar Diop said: “With this agreement, we reaffirm our commitment to support Saudi Arabia’s Vision 2030, which aims to increase private sector participation and diversify its economy. This sends a strong signal to the global business community to invest in transformative infrastructure projects in the country. Private sector engagement can unlock a new era of growth and prosperity for the Kingdom – and, at IFC, we want to make that happen.”
This collaboration will build on the two institutions’ complementary expertise, specifically focusing on greenfield, brownfield, and capital markets transactions. The Infra-IFC partnership will deliver structuring and transaction advice to support the continued growth of private sector participation across KSA’s high-growth infrastructure market, including sectors such as energy and energy transition, water, transport and logistics, waste management, health and education, communications and digital infrastructure amongst others.
The partnership will strengthen Infra’s ability to combine advice with its strategic financing capability and support accelerated outcomes for high-priority infrastructure needs. The arrangement will leverage IFC’s global track record of innovation across multiple sectors and financing strategies.
Eng. Esmail Alsallom, CEO of Infra, commented that “Our partnership with IFC is an important step in expanding Infra’s offering. The integration of advice with Infra’s flexible financing solutions will play an important role in expanding the opportunities for institutional and foreign investment. We are delighted to be partnering with IFC to support higher levels of private sector investment which is critical to the success of KSA’s transformative Vision 2030 agenda.”
IFC’s Managing Director Makhtar Diop said: “With this agreement, we reaffirm our commitment to support Saudi Arabia’s Vision 2030, which aims to increase private sector participation and diversify its economy. This sends a strong signal to the global business community to invest in transformative infrastructure projects in the country. Private sector engagement can unlock a new era of growth and prosperity for the Kingdom – and, at IFC, we want to make that happen.”