PPIAF Annual Report 2023
This year marks the launch of PPIAF’s five-year Renew Strategy for FY23–FY27, which focuses on accelerating universal access to climate-smart, resilient, affordable, and inclusive infrastructure through increased private sector participation. In FY 2023, we approved 51 activities totaling $10.5 million across our four strategic pillars. We surpassed our target to approve 50 percent of activities with climate co-benefits, achieving 65 percent, and an overall 84 percent with top-up support from our Climate Resilience and Environmental Sustainability Technical Advisory (CREST). We are well on the way to reaching a new, ambitious target—where climate co-benefits comprise at least 70 percent of our portfolio. Already, 19 percent of approvals include climate co-benefits. Going forward, PPIAF will focus on mainstreaming climate across its portfolio.