U.S. Infrastructure Plan Piques $232 Billion Mubadala’s Interest - Bloomberg

U.S. Infrastructure Plan Piques $232 Billion Mubadala’s Interest - Bloomberg

President Joe Biden’s proposed infrastructure makeover is getting a thumbs up from one of the world’s biggest sovereign wealth funds.

Mubadala Investment Co. considers the U.S. to be “an unbelievable market,” and the opportunities there might prompt Abu Dhabi’s $232 billion wealth fund to commit money toward infrastructure in the country, Chief Executive Officer Khaldoon Al Mubarak said on Monday during a virtual conference.

“The United States is a country that has incredible infrastructure requirements and is now taking the opportunity of the stimulus packages, combined with zero interest rates, to really stimulate a significant upgrade,” he said.

Biden has called for sweeping investments in electric vehicles, renewable power and the electric grid as part of a broad blueprint to bolster the U.S. economy while combating climate change. The plans, part of a $2.25 trillion infrastructure and stimulus blueprint unveiled by the president, are meant to catalyze investments in a clean energy economy.