Our history

Established in 2002, PIDG has addressed market failures that were prevalent in its target markets in sub-Saharan Africa and south and south-east Asia, by demonstrating to the market at large the commercial viability of private infrastructure investment in the poorest countries. These failures include:

  • Limited supply of long-term, foreign currency financing for infrastructure projects;
  • Lack of local currency financing options to support infrastructure, largely as a result of limited local capital market development;
  • Absence of bankable projects being developed by the private sector to facilitate private sector investment; and
  • Limited government capacity to support the development of publicly-originated infrastructure projects.

Notwithstanding significant changes in the market, many of the attributes that clearly differentiated PIDG when it was set up remain valid today, including our unique focus on infrastructure, our responsiveness to market changes and our agility and ability to address market gaps.

PIDG occupies a niche, where a large proportion of our activities take place at, near or even beyond the frontier of infrastructure investment where there are few or no other actors.

2019

PIDG 5-year Strategy launched

PIDG’s total funding, disbursed or available cumulatively, exceeds $3bn.

2018

New £500m DFID funding announced

New $100m DGIS funding announced

2018

Enhanced collaboration by co-locating PIDG companies in new London office

2018

PIDG Ltd. established

2018

PIDG’s east and southern Africa office, co-locating all African-based PIDG companies, opens in Nairobi

2017

New $46.5m SECO funding announced

2017

Decision taken to wind down GAP, which ceased taking on new projects

Insufficient projects in the renewable power sector that were sufficiently developed to justify continuing a specialised facility trading only in intermediate capital products

2016

PIDG’s south and south-east Asia office, co-locating all Asian-based PIDG companies, opens in Singapore

2015

ICF-DP closed to new business

2014

PIDG Owners’ cumulative investment to PIDG Trust exceeds $1bn

2014

InfraCo Asia Investments established

Market/policy challenge

Shortfall in bridging finance, which can delay and sometimes prevent financial close of IAD projects

PIDG response

Provides investment capital to IAD projects

2013

Green Africa Power (GAP) established

Market/policy challenge

Shortage of renewable energy projects in Africa due to high upfront costs and risks, lack of financing and cost-reflective tariffs

PIDG response

Provides financing and policy support to demonstrate viability of renewable energy in Africa

2012

AusAid becomes a PIDG Owner

2010

InfraCo Asia Development established

Market/policy challenge

Bankable projects not being developed in Asia due to high risk of early-stage project development

PIDG response

Develops commercially viable infrastructure projects in Asia

2009

Infrastructure Crisis Facility – Debt Pool (ICF-DP) established

Market/policy challenge

Reduced appetite of commercial banks to lend to infrastructure projects in developing countries due to the financial crisis

PIDG response

Provides long-term loans to projects to address financing gaps as a consequence of the financial crisis

2006

GuarantCo established

Market/policy challenge

Shortage of long-term, local currency-denominated funding to reduce exchange rate risk for projects

PIDG response

Provides grants to PIDG companies to build capacity and support project preparation and delivery

2004

PIDG’s Technical Assistance Facility (TAF) established

Market/policy challenge

Shortage of public and private sector resources for project preparation, evaluation and affordability

PIDG response

Provides grants to PIDG companies to build capacity and support project preparation and delivery

2004

InfraCo Africa established

Market/policy challenge

Bankable projects not being developed in sub-Saharan Africa due to high risk of early-stage project development

PIDG response

Develops commercially viable infrastructure projects in Africa

2004

International Finance Corporation (IFC), part of The World Bank Group, becomes a PIDG Owner

2003

DevCo, a collaboration between PIDG and the IFC, established

Market/policy challenge

Insufficiently well-prepared projects for private sector involvement due to lack of public authority resources/capacity

PIDG response

Provides advisory services to governments to help them deliver infrastructure projects

2002

The Emerging Africa Infrastructure Fund (EAIF) established

Market/policy challenge

Shortage of long-term loans at sufficiently low interest rates due to perceived risks in developing countries in Africa

PIDG response

Provides long-term loans to private sector infrastructure projects in sub-Saharan Africa

2002

PIDG Trust established to help overcome the obstacles to private sector involvement in infrastructure development in developing countries

PIDG’s founding Members

DFID, DGIS, SECO and Sida, provided initial funding of $100m

Sign up to receive our quarterly newsletter

Close