PIDG announces new funding of up to £500m

New funding part of £4bn for Africa announced by UK Prime Minister

Today the UK Prime Minister has announced £4bn public sector investment in Africa over the next four years, which will be matched by the private sector.

As part of this, PIDG is pleased to announce that the UK’s Department for International Development (DFID) has approved a further tranche of funding of up to £500m for the four-year period, 2018 to 2021.

This funding will be used over the coming years in pursuit of PIDG’s ambition to combat poverty in the poorest and most fragile countries through pioneering infrastructure to help economies grow and change people’s lives.

PIDG Chair, Andy Bainbridge said:

“This latest commitment of funding from one of our largest Owners reinforces our belief that what PIDG does matters. This will enable us to continue to develop the pioneering infrastructure projects which bring a real difference to some of the poorest and most fragile countries and communities in the world.”

Commenting on today’s announcement Philippe Valahu, PIDG CEO, said:

“We are delighted to announce this additional funding, which will enable us to do more, better. Our pioneering approach has seen significant success; with a successful track record we have supported 170 infrastructure projects, mobilised $22.9bn from the private sector and benefited an estimated 231m people.”

Download the full press release.

Read the full announcement from DFID here.