The World Bank estimates that 80% of the poverty reduction achieved over recent years was brought about by economic growth
The lives of millions of micro-entrepreneurs and small-scale farmers – especially poor people in challenging and post-conflict economies – can be improved when private firms and governments work together to promote sustainable economic growth.
The lives of millions can be improved when private firms and governments work together
Market Systems Development
All parts of the agriculture value chain, as well as commodities, can be used to develop markets – from new seed varieties for farming to urban environments such as micro-retail and waste management, water and sanitation, renewable energy, media.
We have implemented large-scale market systems programmes in Nigeria, Kenya, Nepal, Zambia, Malawi, Sierra Leone, DRC and Liberia; and in Asia, in Timor-Leste and the Solomon Islands.
Investment promotion and facilitation
Foreign and domestic investment can spur economic transformation, creating higher productivity jobs and leading to the upgrading of skills, technologies and market linkages. Investment will be strengthened by a long-term approach to building the investment ecosystem with direct support – for example identifying and packaging opportunities, engaging with equity, debt and greenfield investors, and strong advice on transactions. Investment must be responsible and inclusive, avoiding community conflict, social exclusion or environmental damage.
Export Development and Trade Facilitation
Even the poorest and most fragile countries can gain access to regional and global commerce by navigating complex elements of the political economy to determine how to reduce trade barriers and stimulate growth. Government and the private sector can be brought together to implement trade and regional integration projects.
Youth Employment and Skills Development
By addressing the root causes of youth unemployment, long-term, productive employment opportunities for young people can be unlocked. Youth need inclusive, decent formal work, and young entrepreneurs need support to transition from micro-scale ‘survival entrepreneurship’, to opportunity-driven, sustainable entrepreneurship.
Any mismatching of demand for, and supply of, skills can have a damaging effect on businesses of all sizes, the economy, and job-seekers (particularly marginalised groups such as women, migrants and people with disabilities). Development projects must be pragmatic, with ‘best fit’ skills, so that they fit the local context and needs of both employer and trainee.
Business Environment Reform
The business environment will be affected by a wide variety of business environment issues, such as business registration, taxation, land registration, investment promotion and agricultural policy and regulation.
Reform must be grounded in local political and economic realities. Non-government groups should be involved in reform so that groups such as business associations and media companies can become effective advocates on behalf of their members and audiences. This increases engagement in creating a positive business environment and makes a valuable contribution to policymaking.