Investment for development: The UK’s strategy towards Development Finance Institutions

International Development Committee Closed Inquiry
Opened: 9 Nov 2022 Closed: 7 Dec 2023 Parliament page
The International Development Committee launched an inquiry on Investment for Development: the UK’s strategy towards development finance institutions and the effectiveness of aid spending through British International Investment (BII). This inquiry assessed whether BII is best placed to deliver impact and value for the UK taxpayer, given that a greater … Read more
8 Recommendations
15 Conclusions
1 Report
4 Oral sessions
3 Letters
4 Events
Activity timeline 13 events
10 Jan
2024
Correspondence
10 Jan
2024
Correspondence
7 Dec
2023
Report published
15 Sep
2023
Report published
5 Jul
2023
Correspondence
6 Jun
2023
Oral evidence
6 Jun
2023
Formal meeting (oral evidence session) · Room 8, Palace of Westminster
25 Apr
2023
Oral evidence
25 Apr
2023
Formal meeting (oral evidence session) · The Thatcher Room, Portcullis House
7 Mar
2023
Oral evidence
7 Mar
2023
Formal meeting (oral evidence session) · The Grimond Room, Portcullis House
24 Jan
2023
Oral evidence
Oral evidence sessions 4 sessions
6 Jun 2023
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Investment for development: The UK’s strategy towards Development Finance Institutions
Rt Hon Andrew Mitchell · Foreign, Commonwealth & Development Office
25 Apr 2023
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Investment for development: The UK’s strategy towards Development Finance Institutions
Diana Layfield · British International Investment Nick O’Donohoe CMG · British International Investment
7 Mar 2023
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Investment for development: The UK’s strategy towards Development Finance Institutions
David Kuijper · FMO Joe Dharampal-Hornby · Impact Investing Institute Mr Stuart Bradley · Phatisa Group Limited Samantha Attridge · Overseas Development Institute
24 Jan 2023
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Investment for development: The UK’s strategy towards Development Finance Institutions
Anna Marriot · Oxfam Daniel Willis · Global Justice Now Graham Gordon · Catholic International Development Charity (CAFOD) Paul James · Publish What You Fund
Title HC No. Published Items Response
Ninth Report - Investment for development: The UK’s strategy tow… HC 884 15 Sep 2023 23 Responded
Recommendations & Conclusions
2 results
Clear
1 Conclusion Rejected
Ninth Report - Investment for deve…
Development finance institutions significantly contribute to private market growth in low- and middle-income countries.
Development finance institutions can make a substantive contribution to developing private markets in low- and middle-income countries by pioneering new and emerging industries, promoting positive change through investment activities and stimulating private-sector investment to develop markets. (Paragraph 11) Governance Read more
Government Response
The Government does not agree with appointing a non-voting government official to BII’s Board, arguing it would disrupt dynamics and duplicate existing oversight. It committed to maintaining best practice governance and periodically reviewing procedures.
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4 Conclusion Rejected
Ninth Report - Investment for deve…
Strengthen FCDO collaboration with BII to ensure complementary investments by March 2024.
The FCDO must work collaboratively with BII throughout its operations to deliver the International Development Strategy’s objective of supporting countries to grow thriving economies by 31 March 2024. It should do this at both country office and regional levels by … Read more
Government Response
The Government already monitors the thematic and geographic split of BII investments through existing policies and reporting frameworks. However, it will not provide BII investment data alongside FCDO's annual ODA expenditure due to potential confusion, instead highlighting where this information can be found on BII's website. The response does not explicitly address the deadline or the mandate for building collaboration into country plans by March 2024.
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Government Response AI assessment · 23 of 8 classified
Accepted 12
Accepted in Part 3
Deferred 6
Rejected 2
Total 8 recs + 15 conclusions
Correspondence 3 letters
10 Jan 2024 Correspondence from the Minister for Development & Africa relating to Clarification on BII Funding Eligibility for Overseas Territories - 20 December 2023
Parliament page
10 Jan 2024 Correspondence to the Minister for Development & Africa relating to Clarification on BII Funding Eligibility for Overseas Territories - 5 December 2023
Parliament page
5 Jul 2023 Correspondence from the Minister for Development and Africa regarding British International Investment (BII) Statutory Instrument - 20 June 2023
Parliament page