183:
40:
329:, which devoted seven pages to criticizing the organization in September 2010. Amongst other allegations, it claimed that CDC had moved away from financing beneficial international development towards seeking large profits from schemes that enriched CDC's managers while bringing little or no benefit to the poor; and that when Actis was spun out it was given an "implausibly low valuation". The Actis deal was also the subject of criticism by British politicians.
1093:
368:
said in the announcement the change was to "grow economies across Asia, Africa and the
Caribbean while drawing them closer towards free-market democracies and building a network of liberty across the world". A group of NGOs and trade unions criticised the change as part of a move to "repurpose BII as
350:
announced that it was to conduct an inquiry into CDC to examine issues such as its effectiveness and possible reforms, including its abolition. Their report was published on 3 March 2011 with the government's response delivered on 18 May 2011. In 2011 CDC implemented a new business plan, focusing its
310:, with a 60% stake sold to the management team. CDC remained an active sponsor of Actis's investment activities, committing the equivalent of 650 million US dollars to the firm's third fund. Following its reorganisation, CDC ceased making direct investments and became purely a
363:
In
November 2021, the FCDO announced that it would rebrand the CDC as British International Investment (BII) in 2022 as part of a strategy to deepen economic, security and development ties globally, increasing its financing to 9 billion pounds by 2025. Foreign Secretary
314:
investment company. During this period it grew in value from £1.2 billion to £2.8 billion, investing in almost 1000 businesses in 70 developing countries. These businesses employed almost a million people and paid over US$ 3 billion a year in taxes.
947:
345:
announced to
Parliament that the British Government was to reconfigure CDC, saying that whilst he applauded its financial success, it had also "become less directly engaged in serving the needs of development". On 22 October 2010 the
957:
878:
369:
an institution that focuses solely on private-sector investment and profit-making, rather than development goals and poverty reduction", and as part of offering an alternative to foreign partners to loans from China.
952:
154:, to assist British colonies in the development of agriculture. Following the independence of many colonies, it was renamed the Commonwealth Development Corporation in 1963 and was permitted to invest outside the
719:
210:
851:
1127:
1122:
937:
975:
125:
is responsible for the organisation, and is the sole shareholder. It has an investment portfolio valued around US$ 7.1 billion (year-end 2020) and since 2011 is focused on the
1117:
864:
1137:
809:
338:
1142:
1097:
899:
448:
942:
919:
887:
122:
449:"Commonwealth Development Corporation: A report on the efficiency and costs of, and the service provided by, the Commonwealth Development Corporation"
666:
valued the entire business in late 2007 at between £182m and £525m, a value which it later retracted but which nevertheless suggested a discrepancy.
378:
478:
871:
663:
205:
759:
1050:
1029:
593:
1034:
786:
428:
1132:
1019:
347:
1147:
932:
187:
383:
114:
50:
1024:
967:
609:
1004:
588:. African Historical Dictionaries. Vol. 108 (4th ed.). Metuchen, New Jersey: Scarecrow Press. pp. 74–5.
651:
456:
294:
As part of the
Commonwealth Development Corporation Act 1999, CDC was converted from a statutory corporation to a
747:
736:
155:
452:
295:
846:
1065:
195:
143:
486:
355:, as well as once again providing direct investments to businesses alongside its fund of funds model.
638:
39:
17:
584:
Morton, Fred; Ramsay, Jeff; Mgadla, Part Themba (2008). "Colonial
Development Corporation (CDC)".
352:
282:
856:
1055:
927:
677:
589:
985:
533:
126:
1014:
909:
342:
151:
943:
Minister of State for
Overseas Territories, Commonwealth, Energy, Climate and Environment
147:
1111:
1070:
904:
388:
311:
307:
118:
948:
Parliamentary Under-Secretary of State for the Middle East, Afghanistan and
Pakistan
682:
662:
It claimed that the 60% of Actis sold was valued at £373,000 in 2004; and that the
223:
698:
558:
993:
810:"UK accused of abandoning world's poor as aid turned into 'colonial' investment"
656:
617:
508:
325:
748:
https://publications.parliament.uk/pa/cm201012/cmselect/cmintdev/1045/1045.pdf
411:
737:
https://publications.parliament.uk/pa/cm201011/cmselect/cmintdev/607/607.pdf
365:
306:
In July 2004 CDC spun out an emerging markets private equity fund manager,
200:
An Act to make provision about the
Commonwealth Development Corporation.
433:
958:
Parliamentary Under-Secretary of State for Latin
America and Caribbean
953:
Minister of State for Europe, North
America and Overseas Territories
928:
Secretary of State for Foreign, Commonwealth and Development Affairs
298:
renamed CDC Group plc, with all shares owned by the UK Government.
142:
The original Colonial Development Corporation was established as a
1075:
323:
CDC was the subject of extensive investigations by the magazine
860:
839:
27:
Development finance institution owned by the British government
1080:
787:"UK to expand development finance investment to boost growth"
938:
Parliamentary Under-Secretary of State for Indo-Pacific
976:
Permanent Under-Secretary of State for Foreign Affairs
351:
investments on the poorer countries of South Asia and
678:"MPs blast 'incompetent' Brown over company sell-off"
720:"Committee announces inquiry into the Future of CDC"
1043:
1002:
984:
966:
918:
288:
281:
274:
260:
237:
232:
222:
217:
204:
194:
168:
88:
84:
Invests equity and debt directly and through funds.
80:
72:
64:
56:
46:
1128:Financial services companies of the United Kingdom
639:CDC commits $ 650m to Actis emerging markets funds
1123:Government-owned companies of the United Kingdom
429:"Written Ministerial Statements 12 October 2010"
412:"Our company - British International Investment"
339:Secretary of State for International Development
406:
404:
1020:Commonwealth Scholarship Commission in the UK
900:Foreign and Commonwealth Office Main Building
872:
267:Commonwealth Development Corporation Act 2017
253:Commonwealth Development Corporation Act 1996
250:Commonwealth Development Corporation Act 1995
247:Commonwealth Development Corporation Act 1986
244:Commonwealth Development Corporation Act 1982
170:Commonwealth Development Corporation Act 1999
8:
1118:Foreign, Commonwealth and Development Office
888:Foreign, Commonwealth and Development Office
123:Foreign, Commonwealth and Development Office
32:
879:
865:
857:
165:
38:
31:
1138:1948 establishments in the United Kingdom
423:
421:
379:Department for International Development
400:
1076:Government Communications Headquarters
714:
712:
1143:British companies established in 1948
1051:Independent Commission for Aid Impact
1030:Marshall Aid Commemoration Commission
785:MacLellan, Kylie (25 November 2021).
283:Text of statute as originally enacted
7:
1035:Westminster Foundation for Democracy
107:Commonwealth Development Corporation
33:British International Investment plc
18:Commonwealth Development Corporation
654:(3 September 2010). "That's Rich".
348:International Development Committee
808:Davies, Lizzy (21 December 2021).
699:"From aid agency to cash machine?"
559:"From aid agency to cash machine?"
25:
933:Minister of State for Development
852:CDC announces 2008 Annual Results
586:Historical Dictionary of Botswana
1092:
1091:
1061:British International Investment
610:"CDC Public/Private Partnership"
538:British International Investment
513:British International Investment
483:British International Investment
188:Parliament of the United Kingdom
181:
111:Colonial Development Corporation
99:British International Investment
1081:Secret Intelligence Service/MI6
1066:Chevening Scholarship Programme
384:Development Finance Institution
115:development finance institution
60:Development finance institution
51:Development finance institution
697:Gerry Northam (15 July 2008).
676:Ned Temko (25 November 2007).
1:
760:"A New Business Plan for CDC"
652:Richard Brooks (journalist)
455:. June 1992. Archived from
1164:
1133:National development banks
1025:Great Britain–China Centre
479:"Our corporate governance"
163:United Kingdom legislation
152:post-war Labour government
129:of South Asia and Africa.
1148:Companies based in London
1089:
894:
641:. AltAssets, 21 May 2008
180:
175:
37:
337:On 12 October 2010, the
764:Business Fights Poverty
453:Competition Commission
296:public limited company
76:London, United Kingdom
847:National Audit Office
664:National Audit Office
144:statutory corporation
724:Houses of Parliament
34:
986:Executive agencies
726:. 22 October 2010.
459:on 3 December 2008
353:sub-Saharan Africa
1105:
1104:
1056:BBC World Service
620:on 5 October 2007
595:978-0-8108-5467-3
333:Review and reform
319:Criticisms of CDC
292:
291:
233:Other legislation
176:Act of Parliament
96:
95:
16:(Redirected from
1155:
1095:
1094:
1005:non-departmental
881:
874:
867:
858:
843:
842:
840:Official website
825:
824:
822:
820:
805:
799:
798:
796:
794:
782:
776:
775:
773:
771:
756:
750:
745:
739:
734:
728:
727:
716:
707:
706:
694:
688:
687:
673:
667:
661:
660:. No. 1270.
648:
642:
636:
630:
629:
627:
625:
616:. Archived from
606:
600:
599:
581:
575:
574:
572:
570:
555:
549:
548:
546:
544:
530:
524:
523:
521:
519:
505:
499:
498:
496:
494:
485:. Archived from
475:
469:
468:
466:
464:
445:
439:
438:
425:
416:
415:
408:
185:
184:
171:
166:
127:emerging markets
42:
35:
21:
1163:
1162:
1158:
1157:
1156:
1154:
1153:
1152:
1108:
1107:
1106:
1101:
1085:
1039:
1015:British Council
1006:
998:
980:
962:
914:
910:Lancaster House
890:
885:
838:
837:
834:
829:
828:
818:
816:
807:
806:
802:
792:
790:
784:
783:
779:
769:
767:
758:
757:
753:
746:
742:
735:
731:
718:
717:
710:
696:
695:
691:
675:
674:
670:
650:
649:
645:
637:
633:
623:
621:
608:
607:
603:
596:
583:
582:
578:
568:
566:
557:
556:
552:
542:
540:
532:
531:
527:
517:
515:
507:
506:
502:
492:
490:
489:on 7 April 2022
477:
476:
472:
462:
460:
447:
446:
442:
427:
426:
419:
410:
409:
402:
397:
375:
361:
343:Andrew Mitchell
335:
321:
304:
277:
276:Status: Amended
270:
256:
238:Repeals/revokes
190:
182:
169:
164:
140:
135:
28:
23:
22:
15:
12:
11:
5:
1161:
1159:
1151:
1150:
1145:
1140:
1135:
1130:
1125:
1120:
1110:
1109:
1103:
1102:
1090:
1087:
1086:
1084:
1083:
1078:
1073:
1068:
1063:
1058:
1053:
1047:
1045:
1041:
1040:
1038:
1037:
1032:
1027:
1022:
1017:
1011:
1009:
1000:
999:
997:
996:
990:
988:
982:
981:
979:
978:
972:
970:
964:
963:
961:
960:
955:
950:
945:
940:
935:
930:
924:
922:
916:
915:
913:
912:
907:
902:
898:Headquarters:
895:
892:
891:
886:
884:
883:
876:
869:
861:
855:
854:
849:
844:
833:
832:External links
830:
827:
826:
800:
777:
766:. 11 July 2011
751:
740:
729:
708:
689:
668:
643:
631:
601:
594:
576:
565:. 15 July 2008
550:
525:
500:
470:
440:
417:
399:
398:
396:
393:
392:
391:
386:
381:
374:
371:
360:
357:
334:
331:
320:
317:
303:
302:Actis spin-out
300:
290:
289:
286:
285:
279:
278:
275:
272:
271:
269:
268:
264:
262:
258:
257:
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215:
214:
208:
202:
201:
198:
192:
191:
186:
178:
177:
173:
172:
162:
148:Clement Attlee
139:
136:
134:
131:
94:
93:
90:
86:
85:
82:
78:
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69:
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61:
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54:
53:
48:
44:
43:
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
1160:
1149:
1146:
1144:
1141:
1139:
1136:
1134:
1131:
1129:
1126:
1124:
1121:
1119:
1116:
1115:
1113:
1100:
1099:
1088:
1082:
1079:
1077:
1074:
1072:
1071:FCDO Services
1069:
1067:
1064:
1062:
1059:
1057:
1054:
1052:
1049:
1048:
1046:
1042:
1036:
1033:
1031:
1028:
1026:
1023:
1021:
1018:
1016:
1013:
1012:
1010:
1008:
1007:public bodies
1001:
995:
992:
991:
989:
987:
983:
977:
974:
973:
971:
969:
968:Civil Service
965:
959:
956:
954:
951:
949:
946:
944:
941:
939:
936:
934:
931:
929:
926:
925:
923:
921:
917:
911:
908:
906:
905:Hanslope Park
903:
901:
897:
896:
893:
889:
882:
877:
875:
870:
868:
863:
862:
859:
853:
850:
848:
845:
841:
836:
835:
831:
815:
811:
804:
801:
788:
781:
778:
765:
761:
755:
752:
749:
744:
741:
738:
733:
730:
725:
721:
715:
713:
709:
704:
703:BBC File on 4
700:
693:
690:
685:
684:
679:
672:
669:
665:
659:
658:
653:
647:
644:
640:
635:
632:
619:
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611:
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602:
597:
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564:
563:BBC File on 4
560:
554:
551:
539:
535:
529:
526:
514:
510:
504:
501:
488:
484:
480:
474:
471:
458:
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450:
444:
441:
436:
435:
430:
424:
422:
418:
413:
407:
405:
401:
394:
390:
389:Actis Capital
387:
385:
382:
380:
377:
376:
372:
370:
367:
358:
356:
354:
349:
344:
340:
332:
330:
328:
327:
318:
316:
313:
312:fund of funds
309:
308:Actis Capital
301:
299:
297:
287:
284:
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273:
266:
265:
263:
259:
252:
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149:
145:
137:
132:
130:
128:
124:
120:
119:UK government
116:
112:
108:
104:
103:CDC Group plc
100:
91:
87:
83:
79:
75:
71:
67:
63:
59:
55:
52:
49:
45:
41:
36:
30:
19:
1096:
1060:
1044:Other bodies
817:. Retrieved
814:The Guardian
813:
803:
791:. Retrieved
780:
768:. Retrieved
763:
754:
743:
732:
723:
702:
692:
683:The Observer
681:
671:
655:
646:
634:
622:. Retrieved
618:the original
613:
604:
585:
579:
567:. Retrieved
562:
553:
541:. Retrieved
537:
528:
516:. Retrieved
512:
503:
493:29 September
491:. Retrieved
487:the original
482:
473:
461:. Retrieved
457:the original
443:
432:
362:
336:
324:
322:
305:
293:
228:27 July 1999
224:Royal assent
160:
156:Commonwealth
141:
110:
106:
102:
101:, (formerly
98:
97:
73:Headquarters
47:Company type
29:
994:Wilton Park
819:22 December
793:22 December
657:Private Eye
614:HM Treasury
509:"Key facts"
359:2021 rename
326:Private Eye
146:in 1948 by
1112:Categories
1003:Executive
770:12 January
463:5 December
395:References
261:Amended by
196:Long title
920:Ministers
789:. Reuters
569:2 January
366:Liz Truss
158:in 1969.
138:Formation
113:) is the
92:bii.co.uk
1098:Category
624:12 April
373:See also
206:Citation
81:Products
57:Industry
543:7 April
518:19 June
434:Hansard
133:History
117:of the
89:Website
65:Founded
592:
121:. The
109:, and
534:"Our"
218:Dates
213:c. 20
821:2021
795:2021
772:2021
626:2012
590:ISBN
571:2010
545:2022
520:2018
495:2021
465:2008
211:1999
68:1948
150:'s
1114::
812:.
762:.
722:.
711:^
701:.
680:.
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561:.
536:.
511:.
481:.
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403:^
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437:.
414:.
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
