UK's CDC becomes British Investment International

Recourse joined aid organisations and trade unions in criticising the creation of the UK’s new British International Investment (BII) to replace the former CDC.

As well as calling for a strong poverty reduction mandate and improved transparency from BII, the letter calls for guarantees that BII will not invest UK aid in private equity funds or public-private partnerships, and that it will institute a new accountability mechanism for impacted communities.

See coverage of the letter here in The Guardian newspaper.