Welcome to PIDG’s 2021 Annual Review
We are celebrating PIDG’s 20th anniversary this year. The combined challenges of accelerating progress towards the Sustainable Development Goals (SDGs), stepping up action to face the climate emergency, addressing changing demographic patterns and recovering from an unprecedented pandemic crisis, make PIDG’s mission as and more relevant today than when it was first established.
Our 2021 Annual Review documents our progress over the past year, lessons learned and our plans for the years ahead.
We are celebrating PIDG’s 20th anniversary in 2022.In the current global environment PIDG’s mission is even more relevant now than it was when it was first established in 2002. The impact PIDG has been able to have on the lives of those who need it the most is something I am very proud of.
It was clear at COP26 in Glasgow that PIDG’s track record – from renewable energy to electric vehicles, from green bonds to resilient cities – is already somewhat unique. PIDG’s mandate is to pioneer, and we will continue be strategic in pushing the frontier of what is feasible in our target markets.
What did we achieve in 2021?
Sustainable Development Impact
PIDG defines sustainable development impact as tangible net positive impact on people, planet, wider economy and markets. In 2021, we continued to put sustainable development impact at the core of our investment decisions.
Learning from listening to the people our projects serve
One of PIDG’s core values is impact, which we define as having a strong, positive, and tangible effect on people’s lives. This can be summarised as how the customers, end-users and workers benefit from PIDG projects. Accordingly, the number of people expected to have access to new or improved infrastructure from PIDG supported projects has been a key outcome indicator that we have monitored and reported on over the years.
Empowering women in non-traditional roles
K-Electric (KE) is the sole provider of electrical energy in Karachi, Pakistan, covering generation, transmission and distribution to power public buildings, private sector industry, businesses, and households. In 2019, GuarantCo supported KE with a partial guarantee for a $50 million corporate term loan facility.
PIDG Technical Assistance provided a grant to co-finance 31 health and safety awareness workshops with a focus on electrical safety. As a result of this grant, the Roshni Baji Women Ambassador Programme was launched in February 2021, with an initial cohort of 40 women.
Disability inclusion: PIDG ambition
Disability inclusion is a global priority – people with disabilities make up at least 15% of the world’s population, with prevalence increasing with life expectancy. Research shows that the vast majority of people with disabilities live in developing countries and that women in these countries constitute a majority of people with disabilities. This makes disability inclusion both a development and gender equity priority.
PIDG has taken measures to make an important contribution to the removal of barriers and therefore disability inclusion through inclusive and adaptive design of the infrastructure which it delivers.
PIDG helping to transform markets in Vietnam
Prior to the Ninh Thuan project, a solar PPA in Vietnam was considered unbankable due to several factors. PIDG was able to help address these concerns in several ways, providing comfort to lenders and allowing the project to go ahead. The demonstration effects of Ninh Thuan have led to a huge increase in solar capacity in Vietnam.
Our Climate Strategy
The PIDG Climate Strategy illustrates the key strategic priorities of PIDG’s climate action. This is a critical time for tackling climate change with increased public demand for action around the United Nations Climate Change Conference process and as the global community deals with the continued repercussions of the COVID-19 pandemic.
