U.K. Plan To Reform Foreign Aid Faces Scrutiny Among Some Aid Experts, Shadow Government
Financial Times: U.K. seeks reforms on overseas aid spending
“The U.K. wants to change the international definition of government aid spending to include profits from overseas investments, in the latest effort to increase the role of the private sector in development programs…” (Mance, 10/9).
The Guardian: Penny Mordaunt’s planned shake-up of aid rules condemned as ‘big risk’
“Penny Mordaunt’s plans to change the rules on aid to incorporate millions of pounds in profits from private investment have been criticized as ‘risky and potentially dangerous’ by aid experts…” (McVeigh, 10/9).
Huffington Post: Penny Mordaunt Accused Of Making ‘Poverty A Commodity’ With International Aid Plan
“…Shadow International Development Secretary Kate Osamor accused her Tory counterpart of trying to turn global poverty into an ‘investment,’ adding: ‘Poverty is not a commodity, and today’s announcement will do nothing but make the rich richer and entrench both poverty and inequality across the world. This is an outrageous distortion of the country’s overseas development program’…” (Gray, 10/9).
The Telegraph: Shares for aid: Mordaunt says we should all be rewarded for investing in development
“…Ms. Mordaunt’s speech raised the prospect of tax-free financial products for individuals wishing to invest in high-risk but vital development projects in low-income countries…” (Gulland, 10/9).