CDC: Finance

Foreign, Commonwealth and Development Office written question – answered on 25th September 2020.

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Photo of Preet Kaur Gill Preet Kaur Gill Shadow Secretary of State for International Development

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, with reference to the reduction in the value of 0.7 per cent of GNI, by how much the capital transfers his Department plans to make to CDC will be reduced or increased from the originally planned transfers, for the calendar year (a) 2020 and (b) 2021.

Photo of James Duddridge James Duddridge Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)

In response to the reduction in value of GNI, capital investment into CDC in 2020 was reduced by 42% compared to that planned at the start of the year. CDC has re-prioritised its investment activities this year in response to the challenges of COVID-19. The capital invested by the Government is focused on ensuring that CDC continues to take a targeted response that preserves, strengthens and helps rebuild economies across Africa and South Asia to mitigate the economic and health impacts of COVID-19.

2021 ODA spending is subject to decisions in the Comprehensive Spending Review.

ODA prioritisation has ensured we remain prioritised on poverty reduction for the 'bottom billion', as well as tackling climate change and reversing biodiversity loss, championing girls' education, UK leadership in the global response to COVID-19, and campaigning on issues such as media freedom and freedom of religious belief.

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