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Commonwealth Secretariat press release

Conference to boost private investment in developing countries

2 July 2002

Central Bank Governors, senior officials in international finance, regulators and private sector decision makers will gather in London, 3-4 July 2002, for a conference on "Enhancing Private Capital Flows to Developing Countries in the New International Context".
The Commonwealth Secretariat, the World Bank and the Commonwealth Business Council have organised the two-day conference in response to a request from Commonwealth Finance Ministers.

At the meeting financial experts from Commonwealth and non-Commonwealth countries will address a series of issues facing developing countries, including the decline of private investment flows as a result of a succession of emerging market crises and the events of 11 September 2001.

Paul Boateng, Chief Secretary to the UK Treasury will deliver the inaugural address. South Africa's Finance Minister, Trevor Manuel will speak at the official dinner on the evening of 3 July.
Issues to be discussed include:

Day One
· Private sector involvement in crisis resolution
· Mobilising private capital flows to developing countries
· Global economic governance and developing country participation

Day Two
· New technological challenges
· Savings management in developing countries
· Key challenges in the 21st Century

The conference is a follow-up to the meeting on the ''Global Financial System from a developing country perspective'', organised by the Commonwealth Secretariat, the World Bank and the International Monetary Fund at Lancaster House, London, two years ago.

Note to Editors
The Commonwealth has played a key role in mobilising private investment in developing countries. Since 1996 the Commonwealth Private Investment Initiative (CPII) has established four regional venture capital funds worth over US$200 million.
A fifth fund - the Africa Investment Fund was launched by Commonwealth Heads of Government in March 2002, and is expected to attract more than US$200 million.
A press conference will be held at 1:00pm on 3 July at the Millennium Mayfair Hotel, Grosvenor Square, London. For further enquiries please contact Minelle Fernandez (Commonwealth Secretariat) on 020 7747 6383

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ISSUED BY THE COMMUNICATIONS AND PUBLIC AFFAIRS DIVISION
Commonwealth Secretariat Marlborough House Pall Mall London SW1Y 5HX United Kingdom
Tel: +44 (0)20 7747 6385/6 Fax: +44 (0)20 7839 9081
Email: info@commonwealth.int