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<p>CDC invests in the poorest countries in Africa and South Asia to support the growth
of companies that create employment, help transform economies, and improve people’s
lives, through the goods and services they produce and the local taxes they generate.
In 2019, the businesses into which CDC is invested employed 875,790 people; sourced
from 1.84 million farmers; and paid $3.3 billion in local taxes.</p><p>As part of
its ODA prioritisation process, the Government looked across its ODA programming including
CDC. We are investing significantly less capital into CDC than originally planned
at the start of the year. Funding will be focused on ensuring that CDC continues to
take a targeted response that preserves, strengthens and helps rebuild economies across
Africa and South Asia to mitigate the economic and health impacts of Covid-19. Funding
originally earmarked for CDC will be re-purposed to ensure we can continue to focus
on delivering for the bottom billion including by prioritising girls’ education, climate
change, essential health, sexual and reproductive health rights, while also responding
to Covid-19.</p>
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