§ Mrs. SpelmanTo ask the Secretary of State for International Development what projects her Department is carrying out to support British investment in developing countries. [8368]
§ Clare ShortMy Department supports a wide range of projects in developing countries which aim to create a favourable environment for investment. One of our key aims is to help develop conditions which attract private sector investment to the least developed countries. For instance, in South Africa—and in central and eastern Europe—we have projects which aim to build alliances between UK businesses and their counterparts, to help reduce the cost of investment appraisal for small British firms, and to assist in the transfer of skills. We also sponsor the Commonwealth Development Corporation, whose statutory purpose is to contribute to economic development in the poorest countries by investing in, and supporting private sector operations.