IGD Launches Development Partners Network

Categories: Member News

As a complement to IGD’s Frontier 100, we are launching a new network, Development Partners, which consists of executives with business interests in frontier markets who are committed to advancing more private sector-oriented U.S. global development strategies. The group has three objectives:

  • • Serve as a forum for companies to share knowledge about partnering for development and investing profitably with social impact
  • • Facilitate business investment in key development sectors, including in conjunction with Frontier 100 and with U.S. Government development initiatives, such as Feed the Future and Partnership for Growth
  • • Improve private sector-focused U.S. global development programs and tools to attract private investment and promote sustained economic growth

ConstructionThe inaugural meeting of the group was held September 21st with 10 global companies, representing agriculture, power, manufacturing, and ICT, in attendance. After hearing from USAID‘s Chief Economist Steve Radelet and Assistant Administrator for Economic Growth, Education and the Environment Eric Postel on reforms underway at the agency to enable more strategic engagement with business, participants discussed their areas of greatest interest and how they would like to work together going forward.

Given the many challenges of collaborating to attract private capital to development needs, Development Partners will focus initially on three areas that map to company interests and overlap with government development priorities:

  • • Formulating a set of recommendations on a more private sector-led approach to development
  • • A working group on power and energy
  • • A working group on agriculture
The group intends to serve as both a business voice to advocate for constructive ways in which business can play a more significant role in development, including in conjunction with U.S. Government programs, as well as a resource to help companies and agencies identify partnership opportunities around development priorities at the project level.