Economic / Saudi Infrastructure Working Group of Twenty Group affirms the necessity of cooperation with institutional investors and asset managers is one of the group’s priorities in light of the Covid-19 pandemic

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Riyadh, 27 Ramadan 1441 AH, corresponding to May 20, 2020 AD, SPA
The Group of 20 and OECD Working Group on Long-term Investment held a virtual meeting to discuss how best to bridge the financing gap in the infrastructure that has become larger due to the Corona virus (Covid-19) pandemic.
The working group consists of the member countries of the Infrastructure Working Group of the G20 and members of the Organization for Economic Co-operation and Development, the Financial Stability Board, and the member countries of the Asia-Pacific Economic Cooperation forum, in addition to participants from the private sector.
The meeting touched on the report of the Group of Twenty and the Organization for Economic Cooperation and Development on cooperation with founding investors and asset managers, which is one of the priorities of the Saudi presidency of the Group of Twenty, as well as the impact of the Corona virus pandemic on infrastructure, along with several other topics.
It is noteworthy that the Saudi Presidency of the Group of Twenty – together with the Organization for Economic Cooperation and Development – cooperates constantly with investors to discuss views and identify major issues and challenges and provide a set of recommendations aimed at improving the environment for private investment in infrastructure.
The discussions aim to support the mitigation of the impact of the pandemic and bridge the financing gap in the infrastructure, which is increasing in size day after day.
The head of the Saudi team of the Infrastructure Working Group of the Twenty Group Rakan bin Dahish said: “It is now more important than ever to work on exploring all means to encourage the private sector to invest in infrastructure in order to bridge the financing gap, and given the implications of the emerging Corona virus, And the resulting economic impact, this gap may increase in size if investments continue to decline, and if the public and private sector do not cooperate in taking a step forward.
And that the extraordinary meetings of the leaders of the Group of Twenty and the meetings of the finance ministers and central bankers of the countries of the Group of Twenty have succeeded in uniting the efforts of countries during this period of great uncertainty, as the announcement of the debt relief agreement on developing countries is a valid indication of the commitment of the Saudi presidency to the group Twentieth anti-pandemic Covid-19.
He stated that the Kingdom’s presidency of the group sincerely believes that the report of the Group of Twenty and the Organization for Economic Cooperation and Development on cooperation with institutional investors and asset managers will contribute to supporting future work to increase private sector investment in infrastructure, which will lead to building a sustainable, solid and productive global economy.
For more information, please visit the official G20 website: www.g20.org
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