Written question asked by Lord Barker of Battle (Conservative) on Tuesday, 19 October 2004, in the House of Commons. It was due for an answer on Thursday, 28 October 2004. It was answered by Hilary Benn (Labour) on Thursday, 28 October 2004 on behalf of the Department for International Development.

Dept for International Development

Question: To ask the Secretary of State for International Development, if he will make a statement on the executive performance bonus scheme for CDC/Actis Capital and its objectives.

Answer: Gregory Barker: To ask the Secretary of State for International Development if he will make a statement on the executive performance bonus scheme for CDC/Actis Capital and its objectives. [193289] Hilary Benn: CDC has a Short-Term Incentive Plan (STIP) and a Long term Incentive Plan (LTIP) for its staff. The STIP is linked to achievement of the Investment Policy Targets, prudent financial management, and development of CDC's relations with potential partners. The LTIP is linked to financial performance, mobilisation of third-party capital, and development impact. Remuneration in Actis is managed by its Supervisory Board. The remuneration principles are set out in Schedule 12 of the Members' Agreement, a copy of which is in the Library of the House.

Secondary information