British International Investment

Annual Review 2022: Investing for a better tomorrow

Message from the CEO


I am proud to present our Annual Review 2022: Investing for a better tomorrow which reports on the first year of our 2022-26 strategy period.

2022 was a complex year, which brought with it not just one but a series of global challenges. These ranged from an increase in violent conflict, to more frequent and more extreme weather events, to the risk of a second global recession in recent times.

Of course, from these macro issues fall consequences that have made a real impact on people’s lives. From large problems with inflation to issues with supply chains, they have made life very difficult both for businesses and households, as well as hampered the growth needed to improve people’s lives.

Despite these challenges, over the year we made £1.27 billion ($1.56 billion) of new, impact-led commitments, a significant amount of capital going into our markets at a difficult time. Our new strategy is guiding us to invest by the principles of productive, sustainable and inclusive development. Highlights from 2022 include:

  • investing £591 million of climate finance, or 46 per cent of our annual commitments. This is the largest amount of climate finance we have committed in a single year and demonstrates our role as a leading climate investor in Africa and Asia;
  • our investments in electricity generated 50 terawatt hours of electricity – equivalent to 16 per cent of all electricity generated in the UK in 2021;
  • boosting investment in women by committing £640.3 million – half of our investments in 2022 – to businesses which qualify for the 2X Challenge, a joint initiative to increase financing for women.

We also made progress in new areas of our strategy, such as opening a new office in Singapore, to help us provide climate finance in the Indo-Pacific region.

Ultimately, what we’re here to do is invest to make a difference to people’s lives. I am encouraged by what we have already achieved after only one year of the five-year strategy. And I am optimistic about what comes next.

The private sector, supported by development finance, has an important role to play in finding solutions to the development challenges that are affecting people’s lives. Together, our investments and partnerships are supporting solutions that will help countries, businesses and people achieve a better tomorrow.

Best wishes,

Nick O’Donohoe
Chief Executive, British International Investment

The year in numbers


Committed to businesses


Of climate finance commitments


Workers employed in our portfolio


Terawatt hours of electricity generated by our investments



Investing for productivity

We invest to raise the productivity of economies, to support higher incomes and a decent standard of living for all.

From accelerating digital transformation to building modern infrastructure, from strengthening financial services to supporting livelihoods.

Learn more about how our investments are supporting these aims by turning to page 14 in the Review.


Investing for sustainability

We’re addressing the climate emergency by helping economies reduce greenhouse gas emissions, protect the environment, increase climate resilience, and contribute to a greener, cleaner planet.

This year, we committed our largest ever amount of climate finance in a single year: £591 million.

Learn more about how our investments are supporting these aims by turning to page 23 in the Review.


Investing for inclusivity

We’re investing to ensure the benefits of higher productivity and greater sustainability are shared with the poorer and more marginalised sections of society.

This includes promoting gender equality and diversity, supporting countries most in need, and making investments in support of low-income populations.

Learn more about how our investments are supporting these aims by turning to page 29 in the Review.

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