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registered interest false more like this
date less than 2019-07-17more like thismore than 2019-07-17
answering body
Department for International Development more like this
answering dept id 20 more like this
answering dept short name International Development more like this
answering dept sort name International Development more like this
hansard heading Africa: Overseas Aid remove filter
house id 1 more like this
pref label House of Commons more like this
question text To ask the Secretary of State for International Development, with reference to the announcement by the French Development Agency of €1 billion in equity and €1 billion in loans being made available to African entrepreneurs through the programme Choose Africa, what assessment he has made of the potential merits of the UK adopting a similar scheme. more like this
tabling member constituency Newcastle upon Tyne Central more like this
tabling member printed
Chi Onwurah more like this
uin 278487 more like this
is ministerial correction false more like this
date of answer less than 2019-07-22more like thismore than 2019-07-22
answer text <p>The UK is committed to supporting entrepreneurship in Africa to grow local economies, create jobs, reduce poverty and support sustainable development. Last summer, the PM announced that CDC Group, the UK’s Development Finance Institution, would invest up to £3.5 billion in businesses in Africa over four years (2018 to 2021). CDC has already committed £1.9bn in Africa over the last 3 years (2016-2018). CDC is invested in 698 different companies in Africa, directly supporting 370,000 jobs.</p><p>Through CDC and other country specific initiatives, we will mobilise a further £4 billion of private investment for Africa. This investment will allow businesses to grow, produce goods and services for local people, generate income and tax revenues, and help address the financing gap for meeting the Sustainable Development Goals.</p><p>In January next year, the UK will convene an Africa Investment Summit to further promote investment in Africa and to strengthen the partnership with UK investors and companies.</p>
answering member constituency West Worcestershire more like this
answering member printed Harriett Baldwin remove filter
question first answered
less than 2019-07-22T16:10:45.747Zmore like thismore than 2019-07-22T16:10:45.747Z
answering member
label Biography information for Harriett Baldwin more like this
tabling member
label Biography information for Chi Onwurah more like this