Commonwealth Development Corporation: Finance

Department for International Development written question – answered on 14th September 2017.

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Photo of Kate Osamor Kate Osamor Shadow Secretary of State for International Development

To ask the Secretary of State for International Development, what recent progress she has made on the recapitalisation of the Commonwealth Development Corporation (CDC); and what plans she has to enable parliamentary scrutiny of the CDC Business Case and its recapitalisation.

Photo of Priti Patel Priti Patel The Secretary of State for International Development

The passage of the CDC Bill earlier this year enabled significant, and welcome, parliamentary scrutiny of CDC as an institution, and of the case for recapitalisation of it. Issues raised by Parliamentarians from all sides of the House fed into CDC 2017-21 Strategic Framework, launched earlier this year. As is normal practice, the CDC recapitalisation business case will be subject to government review and quality assurance processes, and will be published once approved by Ministers. My Department will continue to engage closely with Parliamentarians on all aspects of CDC’s work, and we welcome constructive input from all sources.

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