The UK government must do a better job of keeping track of the £412.9m channelled through multilateral development banks for infrastructure projects in the developing world, a parliamentary report said on Friday.
The Department for International Development is one the largest contributors to the EU, the World Bank and the African Development Bank for infrastructure spending, but the UK parliamentary international development committee expressed concern that DfID does not monitor spending as effectively as it could. Andrew Mitchell, the international development secretary, has pledged to get value for money for Britain’said budget, which was protected from cuts under last year’s spending review at a time of belt-tightening at home against a bleak economic backdrop.
The report is generally positive about DfID’s role. It praised the department’s innovative approach, particularly through its support of mechanisms such as the Public Private Infrastructure Advisory Facilitythat helps develop legal and regulatory frameworks to maximise the benefits to poorer groups. There is also praise for the Private Infrastructure Development Group, established by DfID to help stimulate investments from donors…Read more.