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Department for International Development: Travant

Volume 710: debated on Monday 11 May 2009

Question

Asked by

To ask Her Majesty's Government what benefits accrued to the United Kingdom from the Department for International Development's £15 million investment in Travant in 2007. [HL3102]

The Department for International Development (DfID) has no investment in Travant. Investment in Travant is made by CDC using its own capital. By making this investment, CDC is making a contribution to the achievement of the UK's broader poverty reduction objectives: increased private investment (as through entities such as Travant) is vital to generate the sustainable enterprises, jobs, incomes and taxes that lift people out of poverty and away from aid dependency.