Secretariat draft
a.
Emphasis
on
investment
21 June 1993
in Africa which
should receive
approximately 40 % of new approvals,
b.
c.
Developing the portfolio of forestry projects,
Continuing to promote a minimum number of projects for small
farmers,
d.
Developing CDC support for privately-run financial
institutions, including venture capital companies, local equity
funds, specialised banks and leasing companies, which support
private sector development,
e. Maintaining the share of new equity investments in total new
investments at 15-20%,
£. Maintaining the share of public utility projects (power, water
and telecommunications) at 25% of new approvals,
g.
Increasing the number of directly managed projects to which
CDC staff are seconded.
Project targets
Public/private sector
6.4
In the 1986 Quinquennial Review CDC were encouraged to invest
increasingly in the private sector, but were not set a quantified target.
The increasing importance which Government attaches to this objective; and
the the emphasis which CDC itself has placed on equipping itself to work
with the private sector suggests a clearer target should be set: CDC's
strong performance since 1986 provides the basis for doing so.
6.5 There is however a case for retaining some role for CDC in the public
sector, and in particular public sector utilities. This helps spread the
risk in the portfolio; and utilises expertise which CDC has built up over
2