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11 Jan 2005 : Column 372W—continued
Zimbabwe
Mr. Malins: To ask the Secretary of State for the Home Department on what basis the decision to end the suspension of removals for failed asylum seekers from Zimbabwe was taken; and whether this represents a change in the Government's assessment of the human rights situation in that country. [204030]
Mr. Browne:
I refer the hon. Member to the written ministerial statement on 16 November 2004, Official Report, column 78WS, announcing the end of the temporary suspension of enforced removals of failed asylum seekers to Zimbabwe. That statement explains the reason for the change in policy and stresses the fact that it does not reflect any change in the Government's condemnation of human rights abuses in Zimbabwe.
X
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INTERNATIONAL DEVELOPMENT
Angola
Jeremy Corbyn: To ask the Secretary of State for International Development what role UK officials had in the IMF monitoring exercise in Angola; and what advice they have offered to the Government of Angola. [207694]
Hilary Benn: The Government of Angola and the International Monetary Fund (IMF) have been engaged in talks for over a year about a staff monitored programme (SMP). Under an SMP, Angola would reach broad agreement on its macroeconomic policy approach, but without any linked IMF lending programme. An SMP is normally used by countries to demonstrate their track record of sound macroeconomic management in order to assist in achieving an international financial and investment standing. A key issue for Angola will be to ensure that all its revenues are captured in their budgets.
It is not yet clear that the political will exists in Angola to come to terms with the IMF. In the recent past, two programmes failed shortly after they had been agreed. The IMF is keen to avoid this happening again. A further IMF mission to discuss the Angola SMP will probably take place in January.
UK officials have no direct involvement in the IMF missions although we are strongly encouraging the Government of Angola to do all it can to respond to the IMF's requests, and reach agreement on a programme. DFID has funded some work on oil revenue transparency in coordination with the World Bank which the IMF have found useful in their discussions on the fiscal position. Furthermore, DFID has advised the Government of Angola that DFID is willing to provide technical assistance to ensure the successful implementation of an IMF programme.
CDC/Actis Capital
Tom Brake: To ask the Secretary of State for International Development how much private investment capital CDC/Actis Capital has attracted for private sector businesses in developing countries in (a) 2002, (b) 2003 and (c) 2004 as a result of its own investment activities in these countries. [206846]
Hilary Benn: Details of the third party funds raised by CDC, Actis and Aureos in 2002–04 are shown in the following tables.
| Aureos Central America Fund | |
|---|---|
| Investors | US$ million |
| CDC | 10.0 |
| European development finance institutions (2) | 15.0 |
| International development banks (2) | 11.3 |
| Total committed capital | 36.3 |
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| Investors | US$ million |
|---|---|
| CDC | 15.0 |
| European development finance institutions (3) | 29.0 |
| International development banks (1) | 6.0 |
| Total committed capital | 50.0 |
| Actis Malaysia Fund LP | |
|---|---|
| Investors | US$ million |
| CDC | 40.0 |
| Pension schemes (1) | 20.0 |
| Total committed capital | 60.0 |
| Investors | US$ million |
|---|---|
| CDC | 20.0 |
| European development finance institutions (1) | 20.0 |
| Total committed capital | 40.0 |
| Investors | US$ million |
|---|---|
| CDC | 75.0 |
| International development banks (1) | 25.0 |
| Total committed capital | 100.0 |
At project level, companies in which CDC invests will typically attract greater private co-investment and have enhanced access to commercial borrowing.
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Tom Brake: To ask the Secretary of State for International Development (1) if he will list investments CDC/Actis Capital has made in (a) 2002, (b) 2003 and (c) 2004 by (i) amount, (ii) country and (iii) percentage of the total CDC/Actis Capital portfolio; [206847]
(2) what percentage of its disbursements CDC/Actis Capital has invested in (a) least developed, (b) other low-income, (c) low and middle-income and (d) upper middle-income countries in (i) 2002, (ii) 2003 and (iii) 2004. [207138]
Hilary Benn: CDC's investments in 2002–04 by country, amount and percentage of the portfolio were as follows:
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Under its Investment Policy, a copy of which I placed in the Library last year, CDC is required to invest solely in, or for the benefit of, the countries included in the "CDC Universe". This is made up of the countries classified as low-income or middle-income by the World Bank. It is required to report against two investment targets, to make at least 70 per cent. of its new investments each year in countries with an annual GNI of US$1,750 pc or less and at least 50 per cent. of its new investments in sub Saharan Africa or South Asia. On a 5-year rolling basis, CDC's performance against these targets is as follows:
| Percentage | |||
|---|---|---|---|
| Investment Policy Target | 2002 | 2003 | 2004(116) |
| 70 per cent. ($1,750 GNI poor less) | 75.4 | 74.6 | 76.8 |
| 50 per cent. (sub-Saharan Africa and South Asia) | 44.3 | 50.3 | 55.9 |
(116) Estimated—final figures not yet available
Although CDC does not routinely report on investment by the country groups that you mention, the data given above shows that CDC's annual investments may be attributed as follows:
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