2017 in numbers

PIDG member and other donor funding

Member and other donor funding disbursed to PIDG ($m)

UK aidDGISFMOSidaWB-IFCSECODFATKFWMFAADA-BMF*OtherTotal
2017
PIDG70.20.5-0.40.415.47.9---94.8
Cumulative (2002-2017)
TAF51.73.5-0.27.913.0---0.33.279.8
DevCo63.55.5-3.311.7----7.0-91.0
InfraCo Africa Development119.535.5---27.5---6.4-188.9
InfraCo Africa Investment0.1----------0.1
InfraCo Asia Investment91.0----14.023.0----128.0
InfraCo Asia Investment27.3----------27.3
EAIF322.927.0-20.0-22.0-----391.9
GuarantCo214.9-34.015.0-39.85.9----309.6
ICF Debt Pool-------7.8---7.8
GAP**28.0-------16.7--44.7
AgDevCo67.0----------67.0
Project development2.60.1-0.10.30.3--0.5--3.9
Total less admin988.571.634.038.619.9116.628.97.817.213.73.21,340.0
General admin11.64.5-4.04.04.72.42.20.81.41.937.5
Totals1,000.176.134.042.623.9121.331.310.018.015.15.11,377.5

Notes

* Includes Irish Aid, ADB and AECID
** UK aid includes disbursements from BEIS

Other sources of funding

In addition to the $1,377.5m of cumulative donor disbursements made to date, our companies draw on a range of other sources of capital to deliver our strategy and targets. Our companies also have access to other funding sources, such as debt financing, contingent capital and UK Government-backed promissory notes. The total of all funding disbursed or available to us is now cumulatively in excess of $2.4bn.

During our 15 years of operations, our owners have benefited from the flexibility to allocate funding across all our activities, or to particular PIDG companies or geographies enabling them to fund their priority areas. Our agile structure also enables PIDG companies to access other sources of capital, including private sector funds, supporting our drive to mobilise greater amounts of funding.

As we deliver the next stage of PIDG’s development, we are focused on broadening and deepening our funding. We look forward to working with new public and private sector partners, across the capital structure.

Other sources of funding ($m) as at 31 December 2017

UK aidFMODFATKfWStandard BankStandard CharteredTotal
InfraCo Africa Development37.4-----37.4
InfraCo Asia Development--2.5---2.5
InfraCo Asia Investment15.9-----15.9
EAIF-55.0-205.125.025.0310.1
GuarantCo54.130.0----84.1
ICF Debt Pool---516.3--516.3
GAP17.5-----17.5
Totals124.985.02.5721.425.025.0983.8

Notes

EAIF
Access to committed loans as at 31 December 2017 of:

  • $25m and €25m (revolving facilities maturing in 2021) from FMO
  • $85m (maturing 2028), and €100m (maturing 2024–28) from KfW
  • $25m (revolving facility maturing in 2018) from Standard Bank South Africa
  • $25m (revolving facility maturing in 2019) from Standard Chartered

GuarantCo

  • Access to £40m callable capital arrangement with UK aid allowing GuarantCo under certain circumstances, to draw further capital
  • Access to $30m stand-by facility with FMO which can be triggered as debt instrument after the callable capital with UK aid is fully drawn

ICF Debt Pool

As at 31 December 2017 €431m was disbursed (net of repayments) from an original commitment of €500m
In addition to the funding disbursed by UK aid, UK Government promissory notes lodged with the Bank of England were issued to the PIDG Trust for the PIDG companies (Green Africa Power, InfraCo Africa Development and InfraCo Asia Investment) during the year. These instruments allow companies to draw down cash disbursements on demand and as at 31 December 2017 the amount of undisbursed cash under issued promissory notes stood at $70.8m (£52.4m)
Of $983.8m of other sources of funding, $375.8m is outstanding and available for use

PIDG commitments by sector

PIDG commitments by sector: 2017 ($m)

Energy 253.2 (52.0%)
Transport 102.4 (21.0%)
Multisector 50.0 (10.3%)
Telecoms 40.1 (8.2%)
Water, Sewerage and Sanitation 34.4 (7.1%)
Agri-infrastructure 6.2 (1.3%)
Capital market development 0.3 (0.1%)
Urban development/infrastructure 0.2 (0.0%)
Housing 0.1 (0.0%)
62 projects486.9
(including 22 TAF grants totalling $4.7m)

Of the commitments made by PIDG to new projects in 2017:

36%
were to projects in Fragile and Conflict-Affected States

45%
were to projects in Least Developed or Other Low Income Countries (OLIC) (DAC I/II)

Pidg commitments by sector: cumulative ($m)

Energy 1,412.6 (44.5%)
Telecoms 520.4 (16.4%)
Transport 486.9 (15.3%)
Industrial infrastructure 263.9 (8.3%)
Multisector 133.0 (4.2%)
Agri-infrastructure 117.6 (3.7%)
Housing 98.6 (3.1%)
Water, sewerage and sanitation 89.4 (2.8%)
Mining 46.1 (1.5%)
Capital market development 2.6 (0.1%)
Urban development / infrastructure 1.3 (0.0%)
403 projects3,172.4
(including 144 TAF grants, totalling $57.5m)

Of the cumulative commitments made by PIDG to projects since 2002:

50%
were to projects in Fragile and Conflict-Affected States

48%
were to projects in Least Developed or Other Low Income Countries (OLIC) (DAC I/II)

PIDG commitments by sector: 2017 ($m) – Energy

Energy253.52
Of which
Renewable energy542.0 (38.4%)
Solar 141.0 (55.7%)
Hydropower 7.6 (3.0%)
Wind 6.1 (2.4%)
Geothermal 0.1 (0.0%)
Biomass -
Non-renewable energy 98.4 (38.9%)

Energy represents the largest proportion of PIDG’s commitments by sector. With an increasing focus on renewable energy, PIDG is delivering a positive impact on people’s lives.

PIDG commitments by sector: cumulative ($m) – Energy

Energy1,412.6
Of which
Renewable energy542.0 (38.4%)
Solar 220.0 (15.6%)
Hydropower 202.8 (14.4%)
Wind 49.8 (3.5%)
Biomass 39.3 (2.8%)
Geothermal 30.1 (2.1%)
Non-renewable energy 870.6 (61.6%)

Last year, PIDG's commitments supported multiple solar projects focused on delivering mini grid and off-grid electricity to villages and people who might otherwise have limited or no access to energy.

Unlocking infrastructure investment opportunities

PIDG operates along the project life cycle and across the capital structure, to help projects overcome the financial, technical or environmental challenges, creating investment-ready, bankable infrastructure opportunities.


Find out more about us

Where we operate

We operate at the frontier where other organisations cannot or will not yet go.

We focus on frontier markets, with our focus predominantly on sub-Saharan Africa and South and South-East Asia.


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