According to the Private Infrastructure Development Group (PIDG), its new strategy framework for 2030 intends to provide $9 billion in commitments as well as $1.6 billion in finance to EMDCs like Nigeria.
According to the organisation, the framework is anticipated to raise $25 billion in additional funding over the course of ten years for the benefit of 100 million people in EMDCs.
According to the organisation, the increased flow of finance would be intended to influence markets and stimulate flows that were worth several times their initial value.
The Chief Executive Officer of PIDG, Philippe Valahu, recently introduced the organisation’s 2030 strategy at a business reception in London. He was enthusiastic about the new agreement and said that with the strategy, PIDG was beginning a new chapter that would be characterised by a focus on climate and nature along with sustainable development.
In order to create and finance infrastructure that offers everyone access to economic possibilities and climate resilience, he pointed out that the private sector is crucial.
According to him, effective delivery would depend on collaborating even more methodically with the business sector, organisations that support international development, and suppliers of catalytic capital.
The PIDG CEO reaffirmed the organization’s role as a prime mover and multiplier of infrastructure financing in South and South-East Asia, as well as sub-Saharan Africa.
He claims that the new strategy’s key focuses—climate and nature, together with sustainable development—will guide all of PIDG’s infrastructure finance and development initiatives.
“Drawing on our legacy of providing new and improved access to infrastructure, we will scale our efforts through an ambitious, collaborative partnership that reshapes sectors and markets for the benefit of all. We know we cannot address the scale of challenge on our own – this strategy is a call to collaborate, to make it happen together,” he said.
According to him, PIDG has successfully completed 211 infrastructure projects over the past 20 years, giving 222 million people access to better infrastructure.
He said that it had raised $40 billion for PIDG projects, of which $25 billion came from private sector commitments.
In addition to responding to the macrotrends that are transforming the infrastructure industry in EMDCs, Valahu emphasised that PIDG’s new approach is intended to continue the momentum it has already established.
Strong economic headwinds, the escalation of the climate problem, and a shifting geopolitical landscape are a few of them, he claimed.
In light of this, the PIDG director stated that the organisation’s goal is to increase climate resilience and economic prospects for 100 million people by 2030.
It aimed to reduce future greenhouse gas emissions in developing countries and support low-carbon technology. It also showed how infrastructure might promote opportunity for all people and gender equality, as well as the preservation, restoration, and regeneration of nature.
Andrew Mitchell, the UK’s minister of state for development and Africa, said: “The Private Infrastructure Development Group’s new strategy will help deliver more climate resilient infrastructure across developing countries in Africa and Asia. PIDG has over two decades of expertise in creating development impact and has given over 222m people access to new or improved infrastructure. The UK is proud to be a long-standing supporter and funder of this brilliant organisation.”
According to the organisation, the governments of the UK, Netherlands, Switzerland, Australia, Sweden, Germany, and the IFC support PIDG.
