#465
Kicking Down The Old And In With The New!
Published:
Nov 28, 2022
Author:
Sarah Parsons Wolter
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In preparation for the World Cup this year, the Qatar government has spent more than $300b on physical infrastructure projects including highway and airport expansions. Elsewhere in the world, infrastructure funding has also come back into focus. In the effort to help rebuild Ukrainian infrastructure which has been severely damaged due to the ongoing war, billionaire Andrew Forrest launched an investment fund that he and his wife have committed $500m to.
Organizers of the Ukraine Green Growth Initiative hope it will reach at least $25b in scale, and will be focused on investing in primary infrastructure including energy and telecom networks. In the rebuilding process, Ukrainian President Zelensky highlighted the need for sustainable and digital infrastructure. Prior to the Russian invasion, Ukraine had set objectives to phase out coal by 2040 and reach 25% renewable energy mix by 2035.
Around the world, articulated progress against sustainable infrastructure development is manifesting from local governments and academic institutions, among others. Just two weeks ago, New York state voters approved $4.2b in green infrastructure bond measures, while Governor Hochul signed legislation on Tuesday this week to remove barriers to owning and charging electric vehicle owners. In Africa, adaptations initiatives are underway to address the heightened risk of climate change in the informal sector such as flooding risk.
Alongside sustainability, funding and investment in digital infrastructure also continues to garner attention as connectivity becomes increasingly critical. In a time of economic uncertainty, SMEs in particular turn to digital solutions for stability and continuity. Anxiety levels are high - and not just from the games in Qatar!
Portfolio News
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Kicking Down the Old And In With The New!
Billionaire Andrew Forrest launches $25b fund for reconstruction - Australian mining billionaire Andrew Forrest has launched an investment fund that is hoped will be worth at least $25b to help rebuild war-torn Ukraine. The Ukraine Green Growth Initiative plans to invest in primary infrastructure such as energy and telecoms networks. Read more
Qatar 2022 World Cup cost: How much money has been paid out by hosts on the most expensive FIFA men's tournament ever - It was back in December 2010 that former FIFA president Sepp Blatter announced that Qatar would host the 2022 World Cup, sparking wild celebrations on the streets of Doha. In the 12 years that followed, Qatar launched the largest infrastructure project in World Cup history to ensure that stadiums, transport links, airports and accommodation facilities would be ready in time for the big kickoff, and has reportedly spent $229b (16x the amount invested by previous host Russia). Read more
Industry News
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Select Financings
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