HC 675 - Oversight of the Provate Infrastructure Development Group
Author | : Great Britain. Parliament. House of Commons. Committee of Public Accounts |
Publisher | : The Stationery Office |
Total Pages | : 20 |
Release | : 2015 |
ISBN-10 | : 9780215081216 |
ISBN-13 | : 0215081218 |
Rating | : 4/5 (16 Downloads) |
Book excerpt: The Department for International Development is the main funder of the Private Infrastructure Development Group, a multilateral agency which invests in infrastructure projects in developing countries. The Department has not used its position as by far the dominant funder of PIDG to influence the direction of its operations and improve its performance. The Department's oversight of PIDG has not been sufficiently 'hands on'. The Committee is concerned that the Department has insufficient assurance over the integrity of PIDG's investments and the companies with which it works and the Department has not done enough to put a stop to PIDG's wasteful travel policies and poor financial management.