Her Majesty’s Government welcomes the ICAI report on the Prosperity Fund. We are pleased that ICAI has acknowledged the significant progress made to date and the constructive recommendations on areas for improvement. The recommendations largely reflect work already underway to build and deliver a strategic portfolio that matches UK government priorities. We are committed to learning and will work actively on the issues identified with partners across government to quickly implement the recommendations.
Sustained economic growth is the only long term solution to poverty. The Prosperity Fund supports the vital economic development needed to help middle-income countries – home to around 70% of the world’s poor – to reduce poverty and become our prosperity partners of the future. Shared prosperity is a key part of the UK Aid Strategy.