CDC Group, the UK’s development finance institution and impact investor, has been formally renamed British International Investment (BII).
The organisation will invest between £1.5 and £2 billion per year in green infrastructure, technology and other sectors to support countries in Africa, Asia and the Caribbean.
British International Investment has a portfolio value of $2.2 billion in Asia, with 400 businesses in its vibrant and growing portfolio, highlights include: Ayana Renewable Power, Fourth Partners Energy, ECom Express, TVS ILP, City Bank, WorldLink, Aavishkaar, BigBasket, Zephyr Power, Equitas Small Finance Bank among many others.
Nick O’Donohoe, the Chief Executive of British International Investment, said, “This is an incredibly significant milestone in the history of our company.
British International Investment will build on CDC’s legacy by inheriting its unparalleled experience of impact investing and deep-rooted knowledge of the markets in which it invests.
We will continue to solve the biggest global development challenges by investing patient, flexible capital to support private sector growth and innovation.
And, we will help to alleviate poverty by building productive, sustainable and inclusive economic outcomes for those that need fair and transparent investment the most.”
British International Investment is at the heart of the UK Government’s international financing offer to Asia and other emerging economies. It builds on its 74-year track record of forming strong partnerships with ambitious businesses to create positive social and economic outcomes for the countries in which it operates. The impact investor will play a key role in the UK Government’s wider plans to mobilise up to £8 billion a year of public and private sector investment in international projects by 2025.
Foreign, Commonwealth and Development Secretary, Liz Truss, said: “The revamped British International Investment is at the heart of Britain’s financing offer to low and middle income countries and our ambitious plan to mobilise up to £8 billion of investment a year by 2025. We will provide reliable and honest sources of finance to low and middle income nations including in Asia, Africa and the Caribbean and at the same time deliver for people in the UK, creating jobs and export opportunities.”
The name change was first announced by the UK’s Foreign Secretary, Rt Hon Liz Truss MP, in November and came into effect on 4th April 2022.