PIDG works in the riskiest countries, building life-changing infrastructure.
In doing so, we catalyse private sector investment in development with public money by blending the two, allowing us to deliver the greatest possible impact in our drive to help transform economies and end poverty.
In 2016, we committed $420m to 35 new projects, of which 50% was in the power sector. Energy is key to unlocking barriers to improving people’s lives. By providing reliable, affordable power in remote places, hospitals, schools and small businesses, PIDG is having a strong transformative effect.
The steep drop in the cost of solar photovoltaic technology also means projects that were unthinkable a few years ago are now a reality – an area in which PIDG is doing pioneering work.
Off-grid technology can provide much-needed power to rural areas more quickly. We are looking to expand on these innovative solutions, while continuing to back larger, on-grid projects.
"Energy is the key to unlocking barriers to improving people’s lives."
The telecoms sector remains an important part of our portfolio. PIDG was among the first to invest in expanding telecoms networks in Nigeria and Uganda. As these markets have developed, we have shifted our focus to projects in more challenging markets such as the Democratic Republic of the Congo and Congo-Brazzaville which still require our help to attract private sector investment. We continue to adapt and deploy our funding where others cannot or will not.
A lack of investor-ready projects is arguably the greatest challenge facing infrastructure development in the countries where we work. PIDG is helping to address this issue by focusing more resources on early-stage development through the InfraCos, TAF and DevCo. We will be supported in this work by our new strategic partnerships with the World Bank Group’s Global Infrastructure Facility, the Sustainable Development Investment Partnership and the Sustainable Infrastructure Foundation. By pooling our resources and knowledge, we will galvanise a greater number of private sector led infrastructure projects.
In order to keep transforming economies and improving lives where people need it most, we must have the backing to do it. In 2017 we will work to diversify our funding from new and existing donors, and continue the dialogue with alternative sources of finance that have expressed an interest in working with us.
In the coming year we will introduce changes to PIDG’s governance structure which will enable future growth. The transition to a single board will strengthen our operations and enhance our ability to make an impact.
These changes reflect PIDG’s shift to a sizeable development finance institution, with a 15-year track record of delivering accessible, reliable and sustainable infrastructure benefiting more than 222m people across sub-Saharan Africa and south and south-east Asia.
Working with donor partners current and new, we will build on PIDG’s important achievements to date, while maintaining its ability to be an agile enabler of infrastructure development and sustainable economic growth.
Chief Executive Officer
Private Infrastructure Development Group
Annual Report 2016