These new targets will mean that:
- CDC will make more than 75% of new investments in low-income countries (those with an annual gross national income (GNI) per capita of less than US$905 in 2006);
- CDC will invest more than 50% of its funds in sub-Saharan Africa; and
- CDC will be able to invest up to £125m over five years in small and medium size enterprise (SME) funds in other developing countries.
Businesses of all sizes, operating in all sectors, are important for sustainable development and economic growth. Manufacturing, financial services, technology, consumer goods and services, industry, retail and agribusiness all have vital contributions to make. SMEs, start-ups, and larger businesses are all important.
The current crisis in global capital markets means that promising businesses in poor countries face an even bigger challenge in accessing long-term risk capital. As a patient investor with a long-term view, CDC’s contribution to emerging markets is essential in these unprecedented times. The role of CDC is as important today as at any time in our 60-year history.
