London Stock Exchange welcomes the Rt Hon Liz Truss MP

London Stock Exchange today welcomes the Rt Hon Liz Truss MP, the UK Foreign Secretary, as she opens the market to celebrate the launch of British International Investment (BII). Formerly known as CDC, BII will act as the UK’s development finance institution which will invest in infrastructure and technology in low- and middle-income countries across Asia, Africa and the Caribbean.

From 4 April 2022, BII will form a key part of the UK Government’s plans to mobilise up to £8 billion a year of public and private sector investment in international projects by 2025. This will include BII partnering with capital markets and sovereign wealth funds to scale up financing and crowd in private investment. Its top investment priorities will be sustainable infrastructure investment to provide a clean, reliable financing and avoid low- and middle-income countries facing unsustainable debt burdens.

These priorities build on the Prime Minister’s commitments at COP26 to help developing countries take advantage of clean technology and grow their economies sustainably. BII will deliver finance a range of climate-related projects such as solar power, sustainable transport and disaster-resilient infrastructure over the next five years.

A new BII strategy will also foster close collaboration with UK Export Finance and the Department for International Trade to leverage the UK’s strengths as a world-leading financial centre, support the UK’s pivot towards Asia and the Caribbean, and create markets for digital infrastructure, technology and renewable energy.

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