UK government to suggest overseas aid projects to boost business

8 Aug 17

British government departments have been asked to propose projects for overseas aid where there is clear potential for high-impact work in financial services, insurance, business services, infrastructure, energy, environmental industries, healthcare and education.

These will be for the second phase of the five-year £1.3bn Cross-Government Prosperity Fund.

A Department for International Development update said the fund’s future work would also emphasise other aspects of the “golden thread” - business environment, anti-corruption, trade and regulation.

The fund was set up last year to disburse official development assistance resources to promote economic reform in eligible middle-income countries, which are home to 70% of the world’s poor.

It draws backing from DfID, the Department for Business, Energy & Industrial Strategy, the Foreign & Commonwealth Office, HM Treasury and the Cabinet Office.

All proposed programmes and projects will be assessed for value for money and against how they support economic development in developing countries and how they create opportunities for business, including UK business.

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