British International Investment
The question
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps British International Investment is taking to align investment decisions with the Government’s (a) missions and (b) development objectives.
Answered by Stephen Doughty
British International Investment's (BII) investment decisions are taken within a framework agreed and aligned with the Government's mission and development objectives. BII is delivering on the Government's ambitions on growth, accelerating the clean energy transition, and unlocking private capital for development impact. In 2023 alone, BII-backed businesses operating in developing countries provided jobs for over one million people, paid $2.4 billion in taxes in partner countries, and generated 59 TWh of electricity.
The Foreign, Commonwealth and Development Office (FCDO) and BII ensure this strategic alignment through governance arrangements that follow best practice guidance from Cabinet Office and HM Treasury with robust lines of accountability between FCDO and BII. We will continue to work with BII to focus and maximise the impact of its work in line with our missions and the wider geopolitical situation.
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