22 May 2018
Life-changing infrastructure helps 9.2m people in Africa and Asia
PIDG launches its 2017 Annual Review. The Private Infrastructure Development Group (PIDG) supported access to life-changing infrastructure designed to boost economies and combat poverty for 9.2 million people, last year.
The Group operates in the world’s lowest income countries, where others cannot or will not invest. Since 2002, 50% of its investments have been in Fragile and Conflict-Affected States, while 48% were in projects in Least Developed or Other Low-Income Countries.
PIDG’s ability to leverage the funds it gets from its seven donor countries and the World Bank means its impact is felt by people living in the most fragile areas.
For every $1 of PIDG member funding, projects it has supported have mobilised $23 of additional investment, of which $17 comes from the private sector.
Our projects are transformative, they drive change and improve people’s daily lives.
In the past year PIDG has implemented a new governance structure; embedding collaborative working between its companies and creating a single board and committee structure to oversee group-wide investment and development decisions.
“We are building on strong foundations to drive the next stage of PIDG’s evolution, allowing us to do more, better” Philippe added.
Among other key achievements in 2017 PIDG saw:
$487m
committed to projects
$2.5bn
mobilised from private sector investors and DFIs
20
projects reach financial close,
7
of which are in Fragile and Conflict-Affected States
10,335
long-term jobs created
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