“I want this department to be the place that lives and breathes the new DFID culture of private sector-led development, an example for other development bodies to follow.
“Aid is a means to an end, not an end in itself. It is the private sector that creates the jobs, goods and services that the world’s poorest people so desperately need to lift themselves out of poverty. We will help them achieve this.
“I want DFID to learn from business. I want to explore how we might enrich DFID’s own talent pool with a series of short-term secondments from the private sector in order to inject new, business-savvy DNA into the department, devising bold and creative solutions to development challenges. That is, after all, what business does so very well”.
The Secretary of State outlined a set of measures that DFID has described as “heralding a new era of private sector-led development work”:
– The creation of a new Private Sector Department to pull together and bring renewed focus to DFID’s business engagement work.
– A greater emphasis on reducing the barriers to growth and improving the environment for doing business in developing countries, alongside a new attempt to restart and conclude the international Doha trade talks.
– Reform of CDC, the DFID-owned development finance institution, to increase the development-focus of their investment portfolio. DFID is launching a public consultation.
The Minister’s speech reflects a new and welcome emphasis in DFID’s work, and an opportunity for the Business Fights Poverty community to contribute and inform the discussion.
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