Developing Countries: Private Sector Development

Part of Oral Answers to Questions — International Development – in the House of Commons at 11:30 am on 8 July 2015.

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Photo of Mary Creagh Mary Creagh Shadow Secretary of State for International Development 11:30, 8 July 2015

It is interesting that the right hon. Lady chose not to share that knowledge with the British public and had to say it here in the Commons. [Laughter.] Well, it is interesting that an answer was not given directly to the programme makers, but instead had to be dragged out of the Secretary of State. There is a lack of accountability, transparency and governance in another DFID project: the Private Infrastructure Development Group.

This year, DFID’s spending on private sector development will double to £1.8 billion, up to £400 million of which will be the UK’s contribution to the new Asian Infrastructure Investment Bank—China’s rival to the World Bank. What oversight and governance procedures has the right hon. Lady put in place to ensure that social and environmental standards and human rights are upheld in the work of the new bank?