The Saudi Public Investment Fund has pledged to invest in infrastructure by up to 20% of the Joint Fund before the expected closure expected, according to the Joint Fund for Aberdeen Standard and Inflexorp in the Infrastructure Sector.
> The Joint Joint Fund has also received the approval of the AFC board approval in infrastructure to contribute $ 90 million.
Other international investors are expected to join, including retirement funds, insurance companies, private and other private clients, and other clients.
The Joint Fund is seeking Aberdeen Standard and Inflander to participate in the transformation and economic recovery in Saudi Arabia and the rest of the GCC, the Middle East and North Africa region through investment in sustainable basic infrastructure projects.
With the commitment of environmental and social governance and sustainable development goals at its core of its philosophy, the Aberdeen Partnership is a mission of Aberdeen and Inflexor in providing solutions in health care, education, water, transport and digital infrastructure, which will have a positive impact on communities and future generations, according to the company's statement. / p>
The Public Investment Fund is the primary engine to support the efforts of the Kingdom's economic transformation within the goals of 2030. This investment is in line with the Fund's objectives in building strategic economic partnerships and launching promising opportunities in the Kingdom, and investing patient capital to support sectors with high long-term growth. / p>
Commenting on this development, Hazem bin Qassem, Chief Executive Officer of Investcorp: created the current troubled and difficult economic environment between the need to develop or upgrade vital infrastructure and resources available for such projects. Since about 40 years, Investcorp worked as a reliable partner for our customers and communities in seeking our vision for enriching the life of future generations. We believe that investment in infrastructure is critical to support long-term economic growth. We are proud of our partnership with the Public Investment Fund to take advantage of our resources and global expertise in promoting sustainable value for all our stakeholders.
Sami al-Nutati, the administrative partner of the Joint Fund between Aberdeen Standard and Inflexorp, said: The Public Investment Fund is one of the world's largest sovereign wealth funds, the main engine to support the economic transformation efforts of the Kingdom within the vision of 2030, and we are happy with our partnership with him. We have identified important investment opportunities in Infrastructure sector in the Kingdom and the region. We depend on unrivaled networks and global expertise to promote foreign, regional and local investment in sustainable infrastructure that keeps the environment and serve communities and future generations.
