PIDG mobilises N18.5tr to finance projects in Nigeria, others
The Private Infrastructure Development Group (PIDG) has introduced its 2030 strategy aimed at attracting $1.6bn (n1.2 triilion) in funding, delivering $9bn in commitments and mobilising $25bn (N18.5 trillion) infrastructure finance in sub-Saharan Africa as well as south and south-east Asia. PIDG’s new strategic framework, which was announced at a business reception in London, according to […]
The Private Infrastructure Development Group (PIDG) has introduced its 2030 strategy aimed at attracting $1.6bn (n1.2 triilion) in funding, delivering $9bn in commitments and mobilising $25bn (N18.5 trillion) infrastructure finance in sub-Saharan Africa as well as south and south-east Asia.
PIDG’s new strategic framework, which was announced at a business reception in London, according to a statement by the group, is aimed at moving markets and stimulating flows worth many multiples of their original value.
PIDG, which is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia, Sweden, Germany and the IFC, has successfully delivered 211 infrastructure projects, providing 222 million people with access to new or improved infrastructure over the last 20 years.
It has mobilised $40bn of investment in PIDG projects, of which $25bn were commitments from the private sector.
The statement added that PIDG’s new strategy is designed to build the momentum it has created while responding to the macrotrends that are reshaping the infrastructure market in Emerging Markets and Developing Countries (EMDCs).
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UK Minister of State for Development and Africa, Andrew Mitchell, said the new strategy will help deliver more climate-resilient infrastructure across developing countries in Africa and Asia.