We live in a world of market failure. If the markets were perfect, then we might not need organizations like your DFI or CDC. However, there are information failures, misunderstandings of risk, and coordination failures in markets, and DFIs help to overcome those failures.
One key one is that we're living in a world of very rapid technical change. For example, in renewable energy, the price of solar energy has fallen by over 90% in something like five years. The early investors, often with state support, are the ones who have been able to create the markets and the regulatory framework that enable the second round investors to come in and make more profit. So, I don't disagree with what Diana said, but I do think there is a role for DFIs as pioneers in areas where there are high market failures and where new technologies are rampant.
One of the great advantages of publicly owned DFIs is that they can work with other elements of the aid program. It's not to say that you have an aid program over here and the DFI sits somewhere working completely independently. You know, when we talk about building the private sector, dealing with the regulatory constraints, building the infrastructure that private entrepreneurs need, and creating the next generation of investable businesses, that's where a collaboration between the DFI and the rest of the aid program can be especially valuable.