Bank and CDC and an agreement in accordance with
which CDC does agricultural investigations for
the World Bank. I hope that the valuable link
with the World Bank will be continued and extended.
7 If the CDC has succeeded in reconciling the
promotion of valuable development schemes with
paying its way, if it has brought management and
management training as well as money into developing
countries, and if it has in the past earned the
tributes paid to its work, the question now is can
it maintain the standard of its work in the future.
I think it can on certain conditions thus
G
(1) The accent should continue to be on
management and training in management.
(2) CDC should continue to be able to deploy
risk capital as well as make loans; much
vital agricultural development requires
equity or ordinary share investment by CDC.
(3) The Board must remain in undivided
control both of the staff and of the
Corporation's investment policy.
(4) CDC itself should continue to be
decentralised. Of the changes made by Lord
Reith, the establishment of Regional
Controllers and Regional Offices, and the
practice of encouraging schemes to come
Overseas
through them to London was perhaps the most
important and the most successful.
development projects cannot be managed from
Mayfair.
.../(5)
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