Saudi infra fund law approved

The Saudi Arabian government has approved a new law that will establish a new national infrastructure fund.

The National Infrastructure Fund (known as INFRA) is the lead development finance partner for infrastructure in the kingdom, and aims to catalyse private sector investment to accelerate infrastructure investment.

“INFRA will offer a complete suite of financing solutions across the capital structure to drive higher levels of private sector investment in the kingdom’s infrastructure market,” said the organisation’s chief executive, Esmail bin Mohammed Alsallom.

The Saudi cabinet has now approved the law, meaning that the fund can begin its work. INFRA is working with BlackRock as its strategic partner.