Commonwealth Development Corporation

Part of the debate – in the House of Lords at 2:30 pm on 4 March 2002.

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Photo of Lord Grocott Lord Grocott Government Whip, Lord in Waiting (Whip) 2:30, 4 March 2002

My Lords, the CDC operates within a clearly laid down investment policy. The important points of that policy include a requirement that the CDC should make 70 per cent of new investments, measured over a five-year rolling period, in poorer developing countries and that each year it should seek to make 50 per cent of new investments in sub-Saharan Africa and south Asia. Those are the parameters within which the investment policy operates and the CDC is meeting those investment parameters.