Life-changing infrastructure helps 31m people in Africa and Asia
22nd Jun 2017
InfraCo Africa is part of the Private Infrastructure Development Group (PIDG). Last year, PIDG opened up access to life-changing infrastructure designed to boost economies and combat poverty for 31 million people.
The group’s success was in part down to its focus on building power plants, which account for up 50% of its work, according to PIDG’s Annual Report 2016: infrastructure, transforming economies, changing lives.
PIDG chief executive Philippe Valahu said: “Energy is key to unlocking the barriers to improving people’s lives. By providing reliable, affordable power in remote places, hospitals, schools and small businesses, PIDG is having a strong transformative effect.”
The organisation, which catalyses private investment in infrastructure in the frontier markets of sub-Saharan Africa and south and south-east Asia by blending it with public finance, raised $23 for every $1 donated from its eight members.
That money is then invested, through PIDG’s companies, in projects including renewable energy farms, telecoms, transport, industrial infrastructure, agriculture, housing and waterworks.
PIDG’s ability to leverage the funds it gets from seven countries and the World Bank means its impact is felt by people living in the most fragile areas.
Among other key achievements in 2016 PIDG saw:
$2.6bn mobilised from private sector investors and DFIs;
18 projects reach financial close, 13 of which are in fragile and conflict-affected states; and
7,404 long-term jobs created.
Father-of-two Kenneth Osike, 24, who is a labourer at a PIDG project, Tororo solar, in Uganda, said: “In 2016 there was a long drought which caused a famine. Because I was working in the solar project I was able to feed my family. With the rest I have bought a cow, I’ve grown some crops, like rice, groundnuts, and I’ve planted some trees. That is how we survived the famine.”
To view PIDG’s Annual Report for 2016 go to www.annualreport.PIDG.org.
Tapping the potential of water
Under Active Development: This project will construct a dam and 120MW hydroelectric power plant on the Pungué River in Central Mozambique. Mozambique is vulnerable to climate change, experiencing frequent floods and droughts that coupled with power deficits are constraining its economic development. This project will tap into the country’s significant hydro potential to generate clean power and dampen fluctuations in downstream river flows.