Photo: Doris Ninco Pacz serving a customer in the shop supported by CAFOD partner Pastoral Social. Central Neiva, Colombia. Copyright Paul Smith / CAFOD
“Engaging the private sector is not about how we feel about business; it’s about how high our aspirations are for poor people. If we rely only upon foreign aid, then our aspirations are far too low.”
(World Bank President Jim Kim )
Private Sector Development is a key feature of many current discussions around international development. The UK Government, amongst many other donors, is prioritising the role of the private sector in development. Often within this there is a strong focus on FDI by multinationals in economic development, job creation and poverty alleviation. With this in mind, DFID has released a strategic framework for economic development at the request of the Secretary of State, which consolidates some of their thinking and work in this area. The World Bank and other donors around the world are also prioritising the private sector within development.
Within this context we’d like to hear your thoughts...
- Given that most poor people are employed in the micro and small enterprise sector, what type of support do they say they need in order to step up and out of poverty? Is this the same as the support needed larger domestic businesses and multinationals?
- What have we learnt from previous experiences in supporting this sector (good and bad) and what does this mean for donor policy (in terms of private sector and / or economic development)
- What would a pro-poor framework within private sector development look like?
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*The views expressed by the authors are representative of the author's own and do not necessarily reflect those of the organisation.