British aid money invested in gated communities and shopping centres

Claire Provost — Millions of pounds of British aid money to tackle poverty overseas has been invested in builders of gated communities, shopping centres and luxury property in poor countries, the Guardian can reveal.

Article Keydmedia Online
3 May 2014

CDC, the little-known investment arm of the British aid programme, has invested more than $260m (£154m) in 44 property and construction companies in Latin America, Africa and Asia.

At least 20 of these are hotels, shopping centres or companies that build or manage gated communities and luxury property, according to Guardian research.

CDC, formerly the Commonwealth Development Corporation, says these investments will create thousands of jobs for poor people in construction and services. But leading British NGOs questioned how supporting upmarket property could be an acceptable use of UK aid money.

Among CDC