Mohammed Al-Jadaan, Saudi Minister of Finance, told the media that the Kingdom of Saudi Arabia had announced a privatisation plan worth $55 billion. The plan includes identifying 160 projects in 16 sectors like asset sales and public-private partnerships. The aim is to secure around $55 billion from the privatisation plan, of which $16.5 billion will be used in the private-public partnerships.
He further mentioned that the firm is looking forward to using the private sector to manage and finance infrastructure, health services, urban transport networks, school buildings, airport services, water desalination plants, and sewage treatment. The partnerships will ensure better, cost-effective and efficient implementation that reduces the use of materials and energy. It will also provide improved products and services for the benefit of citizens globally. Financing sustainable development and quality infrastructure are the concerns of the G20. Thus bridging the infrastructure financing gap requires more effort.
Along with Daniele Franco, Italian Minister of Economy, Al-Jadaan has opened a conference titled ‘2021 G20 Infrastructure Investors Dialogue: Financing Sustainable Infrastructure for the Recovery’. It included finance ministers, international and regional organisations, private sector representatives, senior investors, and asset managers.
The conference aims to benefit from the positive results achieved by the group in 2020 that saw several forums with infrastructure investors. It is an opportunity to put forth an action-oriented agenda for dialogue with investors toward investment in transformation infrastructure.
Daniele said that the infrastructure is vital in promoting economic activities and supports productivity fundamentally. It also provides a solid foundation for robust, inclusive and sustainable growth.