Calls for the United Kingdom’s controversial development investment arm to be put under tighter government control because of over spending and use of tax havens concerns have been rejected by a minister.
At a parliamentary inquiry on Tuesday, British International Investment was criticized for funding fossil fuel projects and for investments in partnership with rich “elite” business leaders, often in middle-income countries, or funneled through Mauritius and the Cayman Islands.
But Andrew Mitchell, the development minister, brushed off the criticism, arguing the U.K.’s development finance institution was the “best in the world” and should not be “interfered with.”
Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).
About the author
Rob Merrick
Rob Merrick is the U.K. Correspondent for Devex, covering FCDO and British aid. He reported on all the key events in British politics of the past 25 years from Westminster, including the financial crash, the Brexit fallout, the "Partygate" scandal, and the departures of Boris Johnson and Liz Truss. Rob has worked for The Independent and the Press Association and is a regular commentator on TV and radio. He can be reached at rob.merrick@devex.com.
Search for articles
Most Read
- 1
- 2
- 3
- 4
- 5