Sections:
Freedom of Information Act 2000, request no. F2006/125
Date of release 21 June 2006
Investment Climate Facility
1. How much money has been released to date for the Investment Climate facility?
£200,000
2. What proposals have been received by the board and what comments has the UK government made concerning these?
No projects have as yet been considered by the Board. The ICF was formally launched on 1 June 2006, and will shortly become operational.
3. What proposals have been accepted and are scheduled to be implemented?
No projects have yet been accepted for funding.
4. Are the costs of consultants included in the proposals submitted? Will these agents be paid directly from the ICF pot? What consultants (if any) have advised DfID on the ICF, what was the cost and what advice was received?
Where consultants are involved we expect their costs to be included in proposals. Where the proposal is approved it is likely that these costs will be covered in part or in full from the ICF budget.
The only consultancies commissioned to provide advice to DFID have been for legal advice on the ICF Trust at a total cost of £3,500. Crown Agents Legal Services provided the advice.
5. What representations has the UK government made to the ICF board?
The UK Government has made no representations to the ICF Board. The UK has had observer status at the first two board meetings and will nominate a Board member.
6. What studies has DfID carried out on the likely efficacy of the ICF for social development in the next five years?
DFID did not carry out any separate studies. Our decision was informed by our own considerable experience of investment climate reform in Africa and elsewhere, as well as by the substance of major recent publications (some of which we have contributed to) such as the World Development Report 2005 ‘A Better Investment Climate for All’ – which highlight, among other things, the impact of better investment climates on improved employment opportunities, growth and broader social outcomes.
7. What measures does DfID have in place to ensure that the ICF will not be manipulated for commercial advantage by the private sector?
It is a fundamental principle of the ICF that it will not give commercial advantage to the companies promoting and supporting the initiative. This is an issue on which the DFID nominee to the Board will maintain a close watch. More generally, the ICF’s governance structure has been designed to ensure that this does not happen. There are a number of important checks and balances built in – including periodic reporting, monitoring and evaluation.
8. Is the facility expected to have a funding shortfall in the first year?
No