§ Mrs. GillanTo ask the Secretary of State for International Development if she will list the emoluments of the(a) Chief Executive and (b) members of the Executive Management Committee of the Commonwealth Development Corporation for 1998 indicating performance-related bonus payments where applicable. [93171]
§ Clare ShortTotal emoluments for CDC's Chief Executive in 1998 were £168,189 and for the members of the Executive Management Committee £819,429.
In 1998 CDC senior management were eligible for performance related bonuses up to a maximum of 20 per cent. of basic salary. Each individual's award (within that ceiling) was made on the basis of individual performance.
§ Mrs. GillanTo ask the Secretary of State for International Development if she will publish the formal maximum exposure limits for each country and each sector in which the Commonwealth Development Corporation invested for each year since 1994–95. [92945]
§ Clare ShortMy Department has not set formal maximum exposure limits for CDC's investments, either by sector or by country. CDC has an internal portfolio management system based on management judgment, which aims to take a prudent approach to asset allocation.