Question to the Department for International Development:

To ask the Secretary of State for International Development, what arrangements have been made to amend the (a) shareholding in, (b) ministerial oversight of and (c) parliamentary scrutiny of the Commonwealth Development Corporation since the Prime Minister's announcement on 16 June 2020; when those arrangements will come into force; and whether legislative change will be required.

The PM has launched a government-wide review of the UK’s foreign, defence, security and development policy. As the UK’s Development Finance institution, wholly owned by the Crown, CDC will be part and parcel of this integrated review. The Crown’s shareholding in CDC is not expected to change. Ministerial oversight of CDC will continue to be exercised by the Secretary of State for International Development until September, at which time Ministerial oversight of CDC will pass to the Foreign Secretary as the Secretary of State responsible for the new Foreign, Commonwealth and Development Office. There will continue to be parliamentary scrutiny of CDC. It is not anticipated that the creation of the Foreign, Commonwealth and Development Office will require any legislative changes in relation to CDC.