Prosperity Fund

(asked on 17th October 2017) - View Source

Question to the Department for International Development:

To ask the Secretary of State for International Development, what discussions she has had with Cabinet colleagues on ensuring that expenditure from the Prosperity Fund prioritises international development over UK industrial and political interests.


Answered by
Alistair Burt Portrait
Alistair Burt
This question was answered on 24th October 2017

The Prosperity Fund has been designed in accordance with the OECD DAC guidelines on Overseas Development Assistance and the 2015 UK Aid Strategy with a primary purpose to support economic development and poverty reduction in developing countries. It is expected that a secondary benefit of strengthening economic development in these countries will be increased trade and investment opportunities, including for UK companies. The Prosperity Fund is overseen by a Ministerial Board, with Minister of State Burt representing DFID, which sets strategic priorities. Official Development Assistance (ODA) eligibility and compliance with the International Development Act are central to Prosperity Fund assessment and approvals processes.

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