The U.K. Department for International Development has officially opened its new private sector department.
The new department will spearhead DfID’s efforts on public-private partnerships, financial sector development and trade. It will also manage DfID’s shareholdings in CDC, formerly the Commonwealth Development Corp., Actis, and the World Bank Group’s International Finance Corp. and Multilateral Investment Guarantee Agency.
Gavin McGillivray leads the new department, which will develop its work program in the coming weeks.
DfID is due to publish the details of its new private sector development strategy in May.