UK to invest £620 million a year through CDC with 20% as high-risk investments
UK International Development Secretary Priti Patel has set out the next phase of the Department for International Development's (DFID) investments through the state-owned Commonwealth Development Corporation (CDC). DFID will invest a yearly average of £620 million (US$948 million), with the option to increase to £703 million (US$1.08 billion) per year. Through the CDC’s impact accelerator and new impact bond, 20% of its capital will be invested in higher impact, higher risk investments.
CDC launched its new five-year strategy in July 2017 following the release of DFID’s 2017 Economic Development Strategy, and the raising of the capital investment limit agreed to by parliament.