Formation
The original Colonial Development Corporation was established as a statutory corporation in 1948 by Clement Attlee's post-war Labour government, to assist British colonies in the development of agriculture. Following the independence of many colonies, it was renamed the Commonwealth Development Corporation in 1963 and was permitted to invest outside the Commonwealth in 1969.
As part of the Commonwealth Development Corporation Act 1999, CDC was converted from a statutory corporation to a public limited company renamed CDC Group plc, with all shares owned by the UK Government.
Read more about this topic: Commonwealth Development Corporation, History
Famous quotes containing the word formation:
“Out of my discomforts, which were small enough, grew one thing for which I have all my life been grateful—the formation of fixed habits of work.”
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