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1227377

registered interest
date	22/07/2020
answering body	Department for International Development
answering dept id	20
answering dept short name	International Development
answering dept sort name	International Development
hansard heading	CDC: Wonderchef
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for International Development, how much funding the CDC Group has invested in Wonderchef to date.
tabling member constituency	Stockport
tabling member printed	Navendu Mishra
uin	78894
answer	answer is ministerial correction date of answer 01/09/2020 answer text <p>CDC's investment into Wonderchef is supporting economic activity for thousands of women who participate in its direct-to-home sales network. Since CDC's investment was made in 2018, the company has also created around 350 direct jobs, with the number of female employees more than doubling in that time. In addition, the company has increased local sourcing of its products helping deliver impact through its supply chain.</p><p>This investment was made through a private equity fund managed by Amicus Capital Partners. CDC's partnership model with Fund managers helps it achieve impact at scale by supporting hundreds of SMEs across South Asia and Africa. In addition to backing local teams of investors, and equipping them with strong Environmental, Social and Governance practices, the model helps support the development of self-sustaining local finance markets.</p><p>CDC publishes the amounts it invests directly into businesses and investment funds on its website www.cdcgroup.com. Individual investment amounts made by its partners are not disclosed as this information is commercially sensitive.</p> answering member constituency Rochford and Southend East answering member printed James Duddridge question first answered 01/09/2020 08:12:51 answering member 1559 label Biography information for Sir James Duddridge
tabling member	4811 label Biography information for Navendu Mishra

1227382

registered interest
date	22/07/2020
answering body	Department for International Development
answering dept id	20
answering dept short name	International Development
answering dept sort name	International Development
hansard heading	CDC: ONOMO Hotels
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for International Development, how much funding the CDC Group has invested in ONOMO Hotels to date.
tabling member constituency	Stockport
tabling member printed	Navendu Mishra
uin	78896
answer	answer is ministerial correction date of answer 01/09/2020 answer text <p>CDC has made investment commitments to ONOMO Hotels of £41 million.</p><p>CDC's investment in ONOMO is creating jobs and stability in some of the world's most challenged countries including: Mali, Togo, Guinea, Cameroon and Cote D'Ivoire. Since the investment the company has created around 250 new permanent jobs.</p><p>CDC's investment also benefits the local economy. For example, as ONOMO now has the capital to expand it was able to employ around 750 construction workers as it added to its sites in 2019. In addition, it purchases around £11 million's worth of locally sourced goods each year - helping create demand for local suppliers.</p><p>As with every CDC investment, it has been made with high Environmental, Social and Governance Standards in mind. CDC is working with the company to reduce energy and water use and ensure its new hotels are built using green design and construction.</p> answering member constituency Rochford and Southend East answering member printed James Duddridge question first answered 01/09/2020 12:56:56 answering member 1559 label Biography information for Sir James Duddridge
tabling member	4811 label Biography information for Navendu Mishra

1227383

registered interest
date	22/07/2020
answering body	Department for International Development
answering dept id	20
answering dept short name	International Development
answering dept sort name	International Development
hansard heading	CDC: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for International Development, what investments the CDC Group has made since 2010.
tabling member constituency	Stockport
tabling member printed	Navendu Mishra
uin	78897
answer	answer is ministerial correction date of answer 01/09/2020 answer text <p>CDC invests to achieve two key objectives: To support the business growth that lifts people out of poverty, and to make a financial return, which CDC then reinvests to improve the lives of people in Africa and South Asia. CDC have only made new commitments in Africa and South Asia since 2012. At the end of 2019, CDC had invested in 1,228 businesses - 690 in Africa and 377 in South Asia. In 2019, CDC made £1.66 billion of new commitments and increased its portfolio to £4.7 billion.</p><p>CDC publishes a full list of its new investment commitments each year in its Annual Reviews (2010 - present) which can be accessed online at www.cdcgroup.com/en/.</p> answering member constituency Rochford and Southend East answering member printed James Duddridge question first answered 01/09/2020 12:51:14 answering member 1559 label Biography information for Sir James Duddridge
tabling member	4811 label Biography information for Navendu Mishra

1227384

registered interest
date	22/07/2020
answering body	Department for International Development
answering dept id	20
answering dept short name	International Development
answering dept sort name	International Development
hansard heading	CDC: Investment
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for International Development, what assessment she has made of the compatibility of CDC Group investments in luxury brands and hotel chains with its mission statement to make a lasting difference to people’s lives in some of the world’s poorest places.
tabling member constituency	Stockport
tabling member printed	Navendu Mishra
uin	78898
answer	answer is ministerial correction date of answer 01/09/2020 answer text <p>All of CDC's investments undergo a comprehensive and systematic assessment of their expected development impact using internationally recognised best practice methods. A team of over 60 development specialists work to ensure that each investment brings about a positive economic, social and environmental change in support of the UN's Sustainable Development Goals.</p><p>CDC invests to support the growth of companies that create employment and help transform economies, through the goods and services they produce and sell and the local taxes they generate. In 2019, CDC invested in businesses in Africa and South Asia that employed 875,790; generated 57 terawatt hours of electricity; and its agricultural investments sourced from 1.84 million farmers.</p><p>Africa needs increased economic infrastructure to unlock its full economic potential and achieve the Sustainable Development Goals. CDC's primary aim when investing into the hotel sector is to create more and better jobs in countries that desperately need them. In addition, these investments support both local and national economic growth. For example, by purchasing goods and services from local suppliers, and by improving economic infrastructure.</p><p>Information about CDC's approach to assessing and monitoring the development impact of its investments is available on its website.</p> answering member constituency Rochford and Southend East answering member printed James Duddridge question first answered 01/09/2020 08:10:04 answering member 1559 label Biography information for Sir James Duddridge
tabling member	4811 label Biography information for Navendu Mishra