Faisal Alibrahim named Chairman of National Infrastructure Fund

Crown Prince Mohammed bin Salman

The National Development Fund's board of directors, chaired by Crown Prince Mohammed bin Salman, appointed Minister of Economy and Planning Faisal Alibrahim as Chairman of the National Infrastructure Fund (NIF).

Alibrahim indicated that the fund focuses on financing infrastructure projects in the Kingdom to boost the economy's role in accelerating the implementation of strategic infrastructure projects.

He added that these projects will develop economic sectors, which will reflect positively on the efficiency of infrastructure.

The minister also emphasized NIF's active role in achieving Vision 2030 goals and boosting the private sector's contribution to GDP to 65%.

In addition, Alibrahim highlighted NIF's commitment to the success of the Saudi Green Initiative by supporting projects essential to achieving the Kingdom’s 2060 net-zero emissions target.

“INF's strategy will chart a clear path towards crowding in higher levels of private-sector financing for infrastructure, through deploying a broad and flexible offering and supporting the Kingdom to become a key global investment destination for this important asset class,” he said.

By driving productivity-enhancing investments in infrastructure, the fund is an important enabler of the Kingdom’s goals of diversifying the economy, crowding in the private sector, creating new job opportunities, and attracting international investment and expertise, the minister added.