A new briefing from the Institute of Development Studies (IDS) has highlighted the role businesses operating in developing countries could play in poverty reduction. Private Foundations, Business and Developing a Post-2015 Framework calls for the private sector to be included in discussions about a replacement for the Millennium Development Goals (MDGs) and makes a series of recommendations, among them that businesses should use their influence to strengthen national government systems instead of bypassing them; both businesses and private foundations must be included in global public policy forums; private foundations should continue investing in innovative projects and should work more closely with civil society; and businesses should learn from aid agencies’ best practice and avoid duplicating existing development projects.
The publication of the briefing was timed to coincide with the UN Development Cooperation Forum in July, which reviewed trends in development cooperation. ‘It is crucial that businesses and private foundations are given a place at the table during discussions around a new global development framework to replace the MDGs in 2015,’ said Dr Noshua Watson, who wrote the report. ‘…integrating the private sector won’t be straightforward, but it is essential if a new framework is to make a real difference to global issues such as climate change and food security.’
Further articles from Alliance magazine related to these topics:
- The value of calculated risk by Ruth Levine, Linda Frey and Paul Brest
- Risk management for development by Larry Brilliant