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Future of CDC

I accept that point. If CDC wants to be a trail-blazer and to encourage investment by others, there must be some way of framing its activities to enable some appropriate risks to be taken. That might involve a special innovation fund to identify potential investments, which could recognise that failure rates are greater with particular kinds of investments such as smaller businesses. Although innovation journeys in business, technology and elsewhere may attract a large amount of investment, there are often only a small but significant number of successes, but they may generate new sectors. There must be discussion about the level of risk that CDC can take, and it would be helpful if the Secretary of State were to reflect on some of those points and tell us whether particular efforts can be made to recognise that, for example, diaspora and smaller communities have a big role to play in those countries, but that there must be a way of enabling them to invest. The pool of investors is often smaller. Is there a way of pooling investments or collaborating to ensure that more targeted investment from those groups goes to developing countries? Those matters should be explored.