Under Saudi Arabia's 2020 presidency, the G20 countries gathered virtually to discuss infrastructure technology or infratech.
The global virtual meeting, which happened on June 10, also reviewed a draft report by the G20 and the Organisation for Economic Co-operation and Development on collaboration with institutional investors and asset managers.
The international forum will be presenting the final report to also the next Finance Ministers and Central Bank Governors (FMCBG) meeting in July.
What's on the InfraTech agenda? Becoming increasingly important, the G20 will provide guidance in policy-making for states to speed up the implementation of technology in infrastructure.
The 3rd Infrastructure Working Group meeting was held on June 9, 2020, under the #G20SaudiArabia Presidency to address the impacts of #COVID19 on infrastructure investment and assess the available solutions to support global economic recovery.
— G20 Saudi Arabia (@g20org) June 9, 2020
Details: https://t.co/wfLrGm3ig8 pic.twitter.com/ohcmzqcVu6
The G20 Infrastructure Working Group (IWG), aims to break through obstacles, manage risks and create favorable conditions for innovation in infrastructure. Once achieved, Infratech has the potential to bring forth stable and long-term economic growth.
Rakan bin Dohaish, head of the Saudi IWG, said that the group will work with partners and private sector investors to close infrastructure financing gaps.
“Over 100 investors with more than $20 trillion of assets under management across a wide geographical coverage have participated in the G20 collaboration with the private sector and delivered input and feedback for the report, which reflects an extensive outreach effort and a high level of investor interest,” he added.
