§ Mr. RosindellTo ask the Secretary of State for International Development if she will make a statement on the performance of the Commonwealth Development Corporation against its objectives for 2001–02. [54686]
§ Clare ShortIn 2001, CDC made £134 million of new investments, and met both its Investment Policy targets. Over the last five years, 83 per cent of CDC's new investments have been in the poorer developing countries, and last year 69 per cent of the new investments were in sub-Saharan Africa and South Asia. Private equities and emerging markets all declined sharply in 2001, and CDC's portfolio valuation was reduced by 10.3 per cent. A copy of CDC's annual review and financial statement for 2001 has been placed in the Library.