NDF appoints members to INFRA’s board

Logo of National Infrastructure Fund (INFRA)

The National Development Fund’s (NDF) board decided to appoint board members of the National Infrastructure Fund (INFRA), marking the fund's first board formation.

According to the Saudi Press Agency (SPA), the appointed members bring extensive national and international expertise in infrastructure, finance, and investment to the board.

The board includes Nabeel Al-Amudi, CEO of Olayan Financing Co., Abdulaziz Al-Arifi, CEO of Shareek program, Stephen Groff, NDF Governor, and Esmail Alsallom, CEO of INFRA.

This is in addition to Stephanie von Friedeburg, Managing Director of Banking and Capital Markets Consultancy at Citi Group, former CEO of Operations at the World Bank Group, and former Vice President at the International Finance Corporation (IFC), along with Marie Lam Frendo, Chief Strategy Officer at Meridiam and former CEO of the G20 Global Infrastructure Hub, who headed the Infrastructure Initiatives department at the World Economic Forum (WEF).

According to data available on Argaam, NDF board previously appointed Faisal Al Ibrahim as Chairman of INFRA's board in February.

The fund aims to support, finance, and develop infrastructure projects in the Kingdom in partnership with either the public or private sectors, following approved policies and strategies in this regard.