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.”
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