CDC’s investments in low-income and fragile states

International Development Committee

Parliament’s International Development Committee (IDC), or its ICAI sub-committee, hold hearings on all ICAI reviews. The IDC hearing on CDC’s investments in low-income and fragile states is available to watch online.

ICAI’s follow-up

ICAI follows up on all of its reviews to check what progress has been made since publication. ICAI’s CDC follow-up is available to read now.

We rated the government’s progress towards meeting the recommendations for our review as ‘inadequate’. This means too little has been done to address our main concerns; the actions taken were not sufficiently relevant or the implementation was too slow.

We found that while CDC had put in place mechanisms and tools for improving its attention to development impact, there was not clear evidence that they were sufficiently shaping investment practices.

Further follow-up

We returned to this review in a further follow-up process, published in June 2021. After three years of close engagement between CDC and ICAI, we have concluded that CDC’s investment decisions now address development impact throughout the investment cycle and consideration of impact is driving active management of investments to a much greater extent.