U.K. Development Secretary Calls For Reinvestment Of Profits From Development Finance Institution, Would Count Toward 0.7% GNI Target

Devex: U.K. aid funding headed for ‘part privatization’ after new announcement, observers say
“The United Kingdom aid chief wants to recycle profits from its private sector investments in a controversial move that could reduce the amount of funding the government puts toward official development assistance. In a speech delivered Tuesday morning, Secretary of State for International Development Penny Mordaunt said she hopes profits made by the U.K.’s development finance institution, CDC, could be reinvested in projects in developing countries to count toward the 0.7 percent of gross national income target…” (Abrahams, 10/9).

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