The Department believes that infrastructure investment
stimulates growth, which is a prerequisite for cutting poverty.
It has identified a need for substantial infrastructure investment
in developing countries which cannot be met by public funding
and aid alone. PIDG, which invests in infrastructure projects
in developing companies, is a multilateral agency founded by the
Department and three other donors in 2002. PIDG is now governed
by development agencies from eight countries and the World Bank.
The Department's total contributions to PIDG, which are expected
to reach £860 million by 2017, have represented 70% of PIDG's
funding since 2002 and 88% of the funding in the last two years.