G20 event on infrastructure investment concludes in Riyadh

Family picture of the G20 Infrastructure Working Group (IWG) taken on Dec. 19 at the close of their two-day symposium. (Twitter photo)
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Updated 01 January 2020

G20 event on infrastructure investment concludes in Riyadh

RIYADH: The Saudi G20 presidency concluded a one-day symposium on infrastructure investment in Riyadh.
The symposium was held on the sidelines of the first G20 Infrastructure Working Group (IWG) meeting, which took place on Wednesday and Thursday in the Saudi capital.
The symposium brought together G20 member countries, international organizations, leading international and local asset managers, and institutional investors to discuss solutions to challenges that prevent or limit private investment in infrastructure. It was also attended by relevant Saudi government entities to enrich and reflect local content.
The symposium’s overall objective was to explore a potential partnership between the IWG and asset managers and institutional investors to collectively promote infrastructure investment.
Dr. Fahad Al-Dossari, deputy governor for research and international affairs at the Saudi Arabian Monetary Authority, welcomed speakers and guests at the event.
In his opening remarks, he highlighted the importance of encouraging private sector investment in infrastructure to close the financing gap.
Al-Dossari said 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,” he added.
The Global Infrastructure Hub 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 1 billion people worldwide live more than 2 km away from a drivable road, almost 1 billion lack access to electricity, and 4 billion lack access to the internet.
Under the Saudi G20 presidency, the IWG will focus on promoting private sector investment in infrastructure and exploring ways to utilize technology to increase efficiency, value delivery and sustainability of infrastructure investment.


Saudi bridge continues to aid stricken in Lebanon

KSRelief provided urgent food supplies to affected people living in the areas adjacent to the port, covering 500 families. (SPA)
Updated 10 August 2020

Saudi bridge continues to aid stricken in Lebanon

  • So far, 290 tons of aid transported to provide urgent humanitarian needs to people affected by explosion

JEDDAH: Aid continues to flow into the Lebanese capital Beirut, as the fourth Saudi air bridge plane operated by the King Salman Humanitarian Aid and Relief Center (KSRelief) arrived on Sunday.
Ninety tons of emergency aid was flown in on the flight, including medical materials and equipment, foodstuff and shelter supplies. Medicines, burn treatments, medical solutions, masks, gloves, sterilizers and other surgical materials will be distributed by special teams on the ground.
The plane also carried food baskets that included flour and dates as well as shelter materials such as tents, blankets, mattresses, and utensils.
So far, 290 tons of aid has been transported from Saudi Arabia to Lebanon as per the directives of King Salman to provide urgent humanitarian aid to the Lebanese people affected by the explosion at the Port of Beirut.
This aid was provided based on an assessment report of the necessary humanitarian needs resulting from the explosion, in coordination with the Saudi Embassy in Beirut, and the KSRelief branch in Lebanon.
This comes as an extension of the efforts made by Saudi Arabia to show solidarity with the Lebanese people and to provide relief to those affected by the disaster.

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So far, 290 tons of aid has been transported from Saudi Arabia to Lebanon as per the directives of King Salman to provide urgent humanitarian aid to the Lebanese people affected by the explosion at the Port of Beirut.

KSRelief provided urgent food supplies to affected people living in the areas adjacent to the port on Sunday, covering 500 families.
Saudi Ambassador to Lebanon Waleed bin Abdullah Bukhari told Arab News that special committees would oversee and review reports on the Lebanese people’s needs.
“Aid will continue to flow into Lebanon after assessing the required needs of the Lebanese people in cooperation with the relevant authorities in Lebanon,” he said.
Countries around the world have come together to help Lebanon in the wake of the explosion on Aug. 4, which devastated large areas of Beirut, damaging and destroying infrastructure, buildings and homes, including all port facilities and the country’s grain storage silos.