International Development written question – answered at on 26 November 2008.
To ask the Secretary of State for International Development pursuant to the written ministerial statement of 3 November 2008, Official Report, column 5WS, on CDC Group, what consideration he gave to including targets for investment in (a) agriculture and (b) environment sectors within the policy targets; and if he will make a statement.
DFID's primary objectives for CDC are that it should invest in the creation and growth of viable private businesses in poorer countries to contribute to economic growth for the benefit of the poor; and mobilise other private investors to invest in these markets, both directly and more widely by demonstrating profitable investments.
In some countries and circumstances, well-chosen investment in agriculture and the environment sectors may generate good returns; in other countries and circumstances this may not be the case as a result, the new CDC policy does not include specific targets for investment in certain sectors.
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