§ Dr. TongeTo ask the Secretary of State for International Development what discussions she has had with representatives from the Commonwealth Development Corporation regarding the adoption of OECD guidelines for multinational companies; and if she will make a statement. [2283]
§ Clare ShortWhen CDC was transformed from a statutory corporation into a public limited company on 8 December 1999 a set of Business Principles was put in place concerning the areas of business integrity, the environment, social issues and health and safety. These confirmed CDC's commitment to best business practice. They were placed in the Library of the House during the passage of the Commonwealth Development Corporation Act 1999.
§ Dr. TongeTo ask the Secretary of State for International Development if she will list the least developed countries that have been targeted for investment by the CDC in each of the last three years; and if she will make a statement. [2286]
§ 2000 Clare ShortIn the last three years CDC has invested funds in the following countries classified as Least Developed Countries (LDCs).
- Laos
- Lesotho
- Malawi
- Mozambique
- Sierra Leone
- Solomon Islands
- Tanzania
- Uganda
- Vanuatu
- Zambia
452W
- Bangladesh
- Lesotho
- Malawi
- Mozambique
- Tanzania
- Uganda
- Vanuatu
- Zambia
- Bangladesh
- Laos
- Lesotho
- Malawi
- Mozambique
- Tanzania
- Uganda
- Vanuatu
- Zambia.
Under its operating framework CDC is required to make 70 per cent. of new investments (by aggregate value), measured over a rolling five year period, in poorer countries' listed in its Investment Policy.
1 Defined as countries with a GNP per capita below the weighted mean for lower middle income countries, based on World bank data published in 1998.