Question to the Department for International Development:

To ask the Secretary of State for International Development, what oversight his Department plans to provide for partnerships between the City of London and African partners with reference to UK aid.

As one of the world’s largest capital markets and a global centre of financial expertise, the UK has a central role to play in channelling private capital to developing economies. We want to ensure that the City of London is a leading financial centre for the developing world, supporting economic growth, job creation and an exit from aid.

That is why at the UK-Africa Investment Summit we announced almost £400 million in UK aid support for initiatives that will improve financial systems and regulations of 45 developing nations in Africa, make it easier for global investors to invest in Africa at scale, and help African governments and companies to raise international capital in their own currencies.