This systematic review was commissioned to address the following
1. What is the evidence of the impact of DFI support (including PIDG
support) for private participation in infrastructure (PPI) on economic
growth and poverty reduction?
2. What conclusions can be drawn from this evidence to help DFIs better
target their investment to maximise their impact on economic growth and
The review focused on the value-added, or 'additionality', that DFIs
might create with respect to growth and poverty, where additionality is
defined as impact beyond that which would have occurred without DFI
participation. Phase 1 examined publicly available evidence in the
academic and grey literatures, as well as DFIs' own material. Phase 2
examined internal project evaluations for a group of five major DFIs,
based on negotiated terms of access. Participating DFIs are: the IFC
(International Finance Corporation), KfW (German development bank), The
UK Government's Development Finance Institution (previously
Commonwealth Development Corporation - CDC), AsDB (Asian Development
Bank) and FMO (The entrepreneurial development bank of the Netherlands).
In each case, the researchers were granted access to previously
confidential documents. In total, more than 400 documents were reviewed,
coded and analysed, roughly half in each phase of the review.
Chapters 1 and 2 of the report describe the objectives and background to
the review. Chapter 3 describes the methods used, and chapter 4 outlines
the search results and give details of included studies (both phases).
Findings of Phase 1 are covered in chapters 5-7 and findings of Phase 2
in chapter 8. Chapters 9-12 cover the limitations of the review;
conclusions and recommendations; a commentary on M&E and impact
assessment; and references.
Spratt, S.; Ryan-Collins, L. Development Finance Institutions and Infrastructure: A Systematic Review of Evidence for Development Additionality. Private Infrastructure Development Group, London, UK (2012) 137 pp.