CDC, the UK government owned development finance institution has published its annual Development Review report for 2009 detailing its investment impact in poorer countries.
CDC’s role is to stimulate economic growth by providing much needed capital for investment in sustainable and responsibly managed private sector businesses in developing countries, with a particular emphasis on sub-Saharan Africa and south Asia.
The report shows that:
- CDC’s capital supports 794 companies (an increase of 113 on 2008) located in 71 developing countries. In 2009, CDC made new investments totalling £359 million of which £121 million was in Asia and £194 million in sub-Saharan Africa, and mobilised £742 million of capital from other investors. Across CDC’s portfolio a total of 733,000 people are employed in the 617 companies that reported employment data.
- US$2.8 billion was paid in taxes to domestic governments over the period of investment by 436 companies reporting tax data to CDC
Speaking at an event to launch the report Sir Bob Geldof said:
“Poverty can only be eliminated through trade and investment. And it is trade and investment that will support the dynamism and enterprise of people in sub-Saharan Africa and south Asia and give them the jobs, dignity and opportunity that they deserve.”
For more information on CDC please visit their website. www.cdcgroup.com