Actis

Tim Loughton
To ask the Secretary of State for International Development how much his Department has been paid for investments made by Actis since it was part-privatised in 2002.

Mr. Malik
DFID has not been paid for investments made by Actis. Net proceeds from assets that are realised by Actis are returned to CDC for reinvestment in private companies in poorer countries.

Tim Loughton
To ask the Secretary of State for International Development what the value is of his Department’s investment in Actis.

Mr. Malik
The value of DFID’s investment in Actis in DFID’s resource accounts is £1.677 million.

Tim Loughton
To ask the Secretary of State for International Development whether he has issued guidance to Actis on ethical criteria for its investment funds.

Mr. Malik
Responsible investment principles were set and agreed with DFID when Actis was established. These are monitored and controlled by a Business Principles Committee made up of non-executive directors. Full information on Actis’ Environmental, Social and Governance Framework is available on the company’s website at http://act.is/profile/responsible_investment.asp

Tim Loughton
To ask the Secretary of State for International Development what his Department's profit share arrangement with Actis is; what dividend payments have been received under that arrangement; and what profit share arrangements are proposed after 2009.

Mr. Malik
The minority 40 per cent. interest entitles the Department to an 80 per cent. share of Actis profits until 2013. Thereafter the Department will be entitled to 40 per cent. of profits in line with its percentage interest. To date, no dividend payments have been made under this arrangement.