Gulf International Bank CEO appointed to the G-20 high level panel on infrastructure investment
Dr. Yahya Alyahya, CEO of Gulf International Bank (GIB), has been appointed as a member in the Group of Twenty (G-20) High Level Panel on Infrastructure Investment (HLPII), which will prepare recommendations for scaling up and diversifying financing for infrastructure needs in the developing countries for further presentation to the next G-20 Summit.
The HLPII includes a number of high profile individuals with a diverse range of talents and expertise in the areas of private investment and infrastructure development in the developing countries.
Out of more than 40 candidates for this panel, Dr. Alyahya was selected along with 11 other individuals. In the past Dr. Alyahya served on the Board of The World Bank Group as Executive Director representing the Kingdom of Saudi Arabia from 1999 to 2006. He also served as an Advisor to the Governor of the Saudi Arabian Monetary Agency.
“I am delighted and honoured to take part in this important high level panel. The mandate of the HLPII will be to prepare recommendations for the upcoming G-20 Summit in France in order to scale up and diversify financing for infrastructure needs, including financing from public, semi-public and private sector sources, and to identify with Multilateral Development Banks a list of concrete regional initiatives,” explained Dr. Alyahya.
“The panel will take into account the limitations of risk bearing capacity of private and semi-public finance, lessons of successes and failures from the past and ongoing programmes, best practice, the importance of durability and whole life costing, and innovative ways to mitigate and intermediate risks to attract finance,” he added.
“In addition, the panel will review the action plan of the Multilateral Development Banks and provide independent comments to ensure workability, maximisation of outcomes and a focus on environmental sustainability and transparency,” Dr. Alyahya stated.
The G-20 is committed to achieving a number of objectives: overcoming obstacles to infrastructure investments, developing project pipelines, improving capacity and facilitating increased finance for infrastructure investment in developing countries. The final outcome of the HLPII will be reported to the Finance Ministers meeting and to the Leaders of the G-20. The final report of the panel will be ready in November 2011.
The Group of Twenty Finance Ministers and Central Bank Governors was established in 1999 to bring together systemically important industrialised and developing economies to discuss key issues in the global economy.
GIB is a leading bank in the Middle East with its principal focus on the GCC states. Its primary shareholder is the Public Investment Fund of Saudi Arabia. The Bank provides client-led, innovative financial products and services to a wide customer base in the region, including investment banking, asset management, project and structured finance and Islamic banking.
Gulf International Bank
Gulf International Bank B.S.C. (GIB) was established in the Kingdom of Bahrain in 1975, and commenced operations in 1976. In 2017, GIB became the first foreign domiciled bank to be granted approval from the Saudi Arabia Council of Ministers to establish a local commercial bank in the Kingdom of Saudi Arabia.
Consequently, GIB's branch offices in the Kingdom will become part of the Saudi Arabian subsidiary, with the country headquarters located in Al Dhahran.
Buy credits to publish your articles on Al Bawaba Biz here