Commonwealth Development Corporation

HC Deb 30 October 1997 vol 299 c878W

Mr. Goodlad

To ask the Secretary of State for International Development what are her plans for the future of the Commonwealth Development Corporation; and if she will make a statement. [13352]

Clare Short

As the Prime Minister announced on 22 October, my intention is that the CDC should develop a new partnership with the private sector in order to increase the flow of investment into the least developed countries. This will require legislation to allow private investors to invest in the CDC. The Government will retain a substantial minority holding and a golden share and will continue to set a framework for the corporation?s operations in order to preserve its developmental character and special skills.