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22 June 2017

Life-changing infrastructure helps 31m people in Africa and Asia

The Private Infrastructure Development Group opened up access to life-changing infrastructure designed to boost economies and combat poverty for 31 million people, last year.

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 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
• 7,404 long-term jobs created.

Father-of-two Kenneth Osike, 24, who is a labourer at 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 2016 go to www.annualreport.PIDG.org.

ENDS

Notes to editors

For interviews and images contact head of communications Rebecca Goding at rebecca.goding@pidg.org or +44 (0)77 3974 9022 and senior communications officer Ryan Denston at ryan.denston@pidg.org or +44 (0)77 3974 9034.

The Private Infrastructure Development Group (PIDG) encourages and mobilises private investment in infrastructure in the frontier markets of sub-Saharan Africa, south and south-east Asia, to help promote economic development and combat poverty. Since 2002, PIDG has supported 154 infrastructure projects to financial close and provided 222 million people with access to new or improved infrastructure. PIDG is funded by donors from seven countries (UK, Switzerland, Australia, Norway, Sweden, Netherlands, Germany) and the World Bank Group.

PIDG Donors
July 2017

Emerging Africa Infrastructure Fund and FMO provide US$29.3 million to refinance the Bugoye hydro-electric power station in Uganda

• EAIF and Dutch development bank FMO each lending 50%
• EAIF Mandated Lead Arranger
• Refinancing also facilitates building new generating capacity
• Refinancing also facilitates building new generating capacity

June 2017

EAIF backs upgrades and expansion at two Madagascar airports, following private sector company Ravinala Airports winning management concession

First airport infrastructure project for EAIF "A step change for Madagascar’s economic development drive", says EAIF chairman

Two airports in Madagascar are to have their runways, passenger terminal facilities and allied infrastructure upgraded and expanded in a EUR 215 million project being supported by the Emerging Africa Infrastructure Fund (EAIF / the Fund). The Fund is providing senior debt of EUR 25 million over a 16-year term.

June 2017

Emerging Africa Infrastructure Fund announces first project in Mali

90MW power station to increase Mali’s effective base load electricity by 30%

The private sector Malian power plant operator, Albatros Energie Mali (AEM), is to build a 90MW HFO-fueled power station in the Kayes region of the country, adding 30% to Mali’s effective base load electricity capacity. The €123.1 million project has the support of a €5.8 million 15-year term conventional loan and €3.9 million Sha’ria financing facility with a 14-year term, both from the Emerging Africa Infrastructure Fund. It is the Fund’s first project in Mali.

June 2017

EAIF manager wins Credit Deal of the Year award for IHS Nigeria US$800 million bond issue

At an awards ceremony at London’s Savoy Hotel on 1st June, the Emerging Africa Infrastructure Fund (EAIF), shared in the congratulations when its manager, Investec Asset Management, won the Credit Deal of the Year award from Private Equity Africa. The award marks the successful US$800 million bond issue by IHS, one of Nigeria’s leading telecommunications businesses. EAIF invested US$50 million in the bond.

Media Enquiries

Please address all media related enquiries to:


EAIF Media Contact
media@eaif.com

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Email: Kotie.Basson@investecmail.com