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answering body	Department for International Development
uin	23631

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registered interest

date

exactly:

or between:
and

answering body

answering dept id

answering dept short name

answering dept sort name

hansard heading

house id

legislature


pref label

question text

tabling member constituency

tabling member printed

uin

answer

is ministerial correction

date of answer

exactly:

or between:
and

answer text

answering member constituency

answering member printed

question first answered

answering member


label

tabling member


label

1181958

registered interest

date

02/03/2020

answering body

Department for International Development

answering dept id

answering dept short name

International Development

answering dept sort name

International Development

hansard heading

CDC: ARM Cement

house id

legislature

25259

	pref label	House of Commons

question text

To ask the Secretary of State for International Development, how much CDC Group have invested in ARM Cement; how much of that investment has been lost or written down; and on what dates the losses and write-downs were recognised.

tabling member constituency

Coventry South

tabling member printed

Zarah Sultana

uin

23631

answer

is ministerial correction

date of answer

11/03/2020

answer text

<p>In 2016 CDC made a $144 million equity investment into ARM Cement, a publicly listed cement business with operations in Kenya, Tanzania and Rwanda. ARM Cement was an investment with high development impact potential. The aim was to support the growth of a regional manufacturer and by so doing reduce the cost and increase the availability of cement across the East African region, creating jobs and spurring infrastructure development.</p><p>Due to a number of factors, CDC’s investment in ARM was ultimately not successful and the CDC investment has been written off. Write-downs were accounted for in 2016 (December); 2017 (March, June, September, December) and 2018 (June).</p>

answering member constituency

Rochford and Southend East

answering member printed

James Duddridge

question first answered

11/03/2020 17:05:28

answering member

1559

	label	Biography information for Sir James Duddridge

tabling member

4786

	label	Biography information for Zarah Sultana