UK to fund new centre to tackle growth in developing countries
31 March 2008
 UK Secretary for State for International Development, Douglas Alexander,
today announced at least £37 million over the next three years to establish a new
International Growth Centre.
Economic growth has accounted for 80% of poverty reduction around the world
since 1980, helping as many as half a billion people to lift themselves out of
poverty.
The new growth centre - a virtual network of experts - will provide practical
and tailored advice to stimulate economic growth in the world’s poorest
countries.
Douglas Alexander said:
"Economic growth is a hugely powerful weapon in the fight against poverty. It
has a huge impact on improving the lives of people in developing countries and
is at the heart of the UK’s efforts towards reducing poverty worldwide.
"There is no ‘one size fits all’ solution to stimulating economic growth and
it is important to recognize that each country faces different obstacles and
barriers to growth. The new growth centre will give Governments in developing
countries access to world-class advice tailored to their country’s needs."
The private sector has a crucial role to play in helping developing countries
grow, and through the work of DFID, the UK Government is working hard to support
the private sector to invest and create jobs in developing countries, and
increase poor people’s access to affordable goods and services.
Varda Shine, Managing Director of Diamond Trading Company, and representative
of Business Action for Africa, said:
"We welcome the Secretary of State's emphasis on putting sustainable economic
growth at the heart of the fight against poverty and the need for policies that
enhance the local environment for business. Private sector led growth, delivered
through core business activities and innovative partnerships, creates jobs,
stimulates small and medium sized businesses, introduces new products and
services for the poor and nurtures key skills and capabilities to enable
business to thrive."
Simon Maxwell, the Director of Oversees Development Institution (ODI), said:
"Gordon Brown and Douglas Alexander are right to make growth more prominent
in international development policy – and are right to emphasise the role that
businesses can play. In fact, developing countries are growing faster now than
for a generation. Africa grew by 6% last year, thanks to high commodity prices
but also better governance. The challenge in 2008 will be to sustain growth
through the global financial crisis, recession in the US, and the shock, for
many countries, of higher prices for food and oil."
The tender process for selecting an institution to host and manage the IGC
has begun. DFID expect to award a contract in the summer and for the IGC to be
launched in the autumn.
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Notes to editors
- The International Growth Centre (IGC) will bring together
multi-disciplinary teams of experts and practitioners to help analyse growth
prospects, prioritise growth strategies and create an environment for
sustainable growth, by developing long-term relationships with governments. The
IGC will also manage and conduct new research on growth, including specific
research on major growth challenges facing the poorest countries.
- Information
about the tender process
- The Draft Terms of Reference
 (23
kb)
- The United Kingdom has committed to spend $750 million on aid for trade each
year by 2010. The funding will be used to build the infrastructure,
communications and skills needed to take advantage of trading opportunities.
- The Millennium Development Goal Call to Action
was launched in July 2007 by the Prime Minister in New
York, speaking alongside the UN Secretary General, Ban-ki Moon, to encourage the
international community to accelerate progress to deliver the MDGs, and to mobilise
not just governments but business, faith groups, NGOs, cities and professional
organisations.
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