UK's DFI taking action to improve development impact
The UK’s development finance institute (DFI), the CDC Group, is taking action to improve the development impact of its investments and to enhance institutional learning in response to a critical report by the UK’s Independent Commission for Aid Impact on its investments in low-income and fragile states. The DFI has put in place a new framework to better incorporate development impact criteria into its investment decision-making. It has also increased the number of staff working on measuring impact within the organisation. CDC is also expanding its learning program and recently launched a new impact challenge fund with DFID to explore the impact of its investments in key sectors over the coming years.
DFID announced that it will commission an independent review of CDC that will be used to influence DFID's future funding for the institution.