Aims to encourage private infrastructure investment in developing countries that contributes to economic growth and poverty reduction.
The Private Infrastructure Development Group (PIDG) is an innovative multi-donor organisation constituted in 2002. The PIDG members are:
- The World Bank/International Finance Corporation
The objective is to encourage private infrastructure investment in developing countries that contributes to economic growth and poverty reduction. The PIDG has established a range of facilities and investment vehicles which provide varying types of financial, practical and strategic support in order to realise this objective.
The UK and other donor members of PIDG established the Private Infrastructure Development Group Trust (PIDG Trust) to be the shareholder in the individual PIDG facilities or companies. The PIDG Trust has established the Private Infrastructure Development Group Ltd (PIDG Ltd) to provide centralised, consistent and robust control over the activities of the other PIDG companies and the group as a whole.
PIDG members set the investment policies, code of conduct and operating policies and procedures for the group. The PIDG members select the chair of the board of directors and all other directors of PIDG Ltd and hold PIDG Ltd accountable for all activities of the group through regular reporting, including annual general meetings. PIDG Ltd’s board has overall responsibility for the activities of the PIDG Group, delegating to committees staffed by a mixture of appropriately skilled non-executive directors and executives. The board is also supported by a central executive team employed by PIDG Ltd, which will assist in the implementation of the investment strategy and investment decisions. This model ensures accountability, quality, independence, continuity and stability, and value for money.