In order to help 100 million people in emerging markets and developing countries fight climate change, the Private Infrastructure Development Group has pledged to deliver $9 billion in commitments and mobilize an additional $25 billion in funding.
The Punch reported that the company reportedly revealed this recently at a business reception in London when it unveiled its 2030 plan.
“Climate and nature, along with sustainable development, are the core focus of the new strategy and will inform all of PIDG’s infrastructure financing and development activities,” the statement read.
The secret to successful delivery will be to collaborate even more methodically with the private sector, development finance organizations, and suppliers of catalytic capital.
“PIDG has successfully completed 211 infrastructure projects over the past 20 years, giving 222 million people access to new or enhanced infrastructure.
“It has also raised $40 billion for PIDG projects, of which $25 billion came from private sector commitments. The governments of the UK, Netherlands, Switzerland, Australia, Sweden, Germany, and the IFC all contribute to the funding of PIDG.
In light of this, the statement continued, “PIDG is increasing the volume of projects it develops and offering new local currency guarantee options. It seeks to make climate better as well as economic opportunities for 100 million people by 2030.”
“Prevent future greenhouse gas emissions in developing economies by promoting carbon-free technologies.
It would also show how infrastructure may promote opportunity for all people, gender equality, ecological preservation, restoration, and regeneration.
Furthermore, it was said that PIDG will combine its strengths with the new plan.
It continued, “This would help to increase the pipeline of projects built to internationally investable standards, unlock domestic institutional capital for infrastructure investment, and deploy commercial and institutional capital in emerging and developing markets through its blended finance structures.
