Question to the Cabinet Office:

To ask the Minister for the Cabinet Office, what assessment he has made of the effectiveness of the Prosperity Fund in meeting its primary purpose.

I am replying as Chair of the National Security Council Sub Committee on the Cross Government Funds, which provides Ministerial oversight of the Prosperity Fund. The Prosperity Fund is delivering on its primary purpose of promoting economic development in developing countries, including through improving financial resilience and creating the right conditions for sustainable growth. All overseas development assistance provided by the Prosperity Fund must meet the OECD Development Assistance Committee’s eligibility criteria and comply with the International Development Act 2002. The Prosperity Fund has appointed suppliers to provide robust Monitoring & Evaluation across the programme. They will provide rigorous evidence and assessment on the Fund’s primary development objectives. Early examples of outcomes and impacts can be found in the Fund’s Annual Reports, the first one of which was published in December 2017.