§ Tony BaldryTo ask the Secretary of State for International Development (1) when she expects CDC, formerly the Commonwealth Development Corporation, to meet its target of 50 per cent. of its investment in Africa and poorer countries in Asia; [27701]
(2) which Minister is responsible for the CDC, formerly the Commonwealth Development Corporation; [27700]
(3) whether CDC, formerly the Commonwealth Development Corporation, submits an annual corporate plan for ministerial approval. [27702]
§ Clare ShortI am the Minister responsible for CDC. CDC have an investment policy set by Government, which provides the framework within which the board formulates its business plans. The Government do not require these plans to be submitted for approval by Ministers. CDC met the investment policy target for 601W sub-Saharan Africa and South Asia in 2001, when 52 per cent. of the aggregate cost of its investments were for the benefit of these countries.