One million jobs supported by Britain鈥檚 development finance firm
皇冠体育app International Development Secretary has praised CDC for supporting more than a million jobs for the first time in its history
More than a million jobs are now being supported by CDC's investments. Picture: Russell Watkins/DFID
皇冠体育app UK鈥檚 - which is owned by the Department for International Development - is now investing in 1,250 businesses and providing 1,109,000 jobs in some of the world鈥檚 poorest countries, according to their published today (26 April 2013).
This is a record level of jobs supported by CDC and represents a 14% increase from the last year.
皇冠体育app annual report also revealed that these businesses contributed 拢2.6 billion in tax revenues in the countries in which they operate, helping to reduce governments鈥� dependency on aid.
Responding to the report, International Development Secretary Justine Greening said:
British development focus is shifting to drive an end to aid dependency through jobs. Reaching the one million jobs mark through CDC shows the role the private sector can play in reducing poverty in developing countries.
I want to see British companies centre stage in that push. It can be a win-win for us all as we help markets to develop.
CDC published a new business plan last year after a comprehensive review and public consultation on their operations by the Department for International Development. Following the review, CDC restructured the way it operates to ensure it can direct its capital to where it is needed most and measure its success in terms of jobs supported, not simply profits generated.