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Prosperity Fund

House of Lords written question – answered on 28th June 2012.

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Photo of Lord Donoughue Lord Donoughue Labour

To ask Her Majesty's Government how much the Foreign and Commonwealth Office has spent through the Prosperity Fund throughout the various countries where it operates.

Photo of Lord Howell of Guildford Lord Howell of Guildford Minister of State (Foreign and Commonwealth Office) (International Energy Policy)

The Prosperity Fund seeks to advance our prosperity agenda by opening markets, ensuring access to resources and promoting sustainable global growth in key emerging markets. In 2011-12, the fund's first year, the Prosperity Fund allocated 98% of its £19,402,080 spend to the following 14 target markets and multipliers:

China £4,703,535
Brazil £3,566,111
India £2,426,108
Mexico £ 1,899,944
South Africa £ 1,443,197
Indonesia £997,111
Wider Latin America £842,439
Russia £498,118
South East Asia £652,903
Middle East (Saudi Arabia, the Gulf and Ira) £499,385
Organisation for Economic Co-operation and Development Outreach programme (Iraq, Kazakhstan, Egypt and Tunisia) £551,799
Turkey £342,073
Japan £301,279
South Korea £262,565

The remaining 2% financed a range of other ad hoc, smaller projects in a number of countries including the UK.

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