Business Transforming Development

This focus area covers the role and impact of the private sector in global development. From small social enterprises, to multinational corporations, the private sector is playing a role in development – through new business models, new ways of funding and innovation.

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World Benchmarking Alliance aims to push businesses to do good through new ranking system

In Bangkok, climate campaigners warn against the private sector 'silver bullet'

Insurance is often floated as the solution to the havoc climate change is wreaking in developing nations. A new report suggests it's another way for developed countries to buy their way out of climate change.

IFC mulls how to make the Pacific more viable for investment

Political barriers and the costs of doing business have long dissuaded private sector investment in the Pacific. But the International Finance Corporation has vowed a renewed focus on the region as part of its commitment to conduct 30 percent of work in fragile and conflict-affected countries.

A new roadmap for the private sector's fight against modern slavery

Many initiatives stress the moral imperative for corporations to take the lead in fighting this global crime. But Mekong Club's "Business Pledge against Modern Slavery" takes a supportive, practical approach, according to the Hong Kong-based antislavery NGO.

Q&A: Supporting Africa's entrepreneurs

From a village baker to a market creator, Jean-Philippe Stijns, senior economist at the European Investment Bank, tells Devex the development community must recognize all levels of entrepreneurship in sub-Saharan Africa, including the role entrepreneurs can play in economic transformation.

Business experience will be valuable for development professionals of the future

Devex takes a closer look at how private sector engagement and funding is impacting the global development sector. Changing approaches to development work will require professionals with both hands-on business and developing country experience.

In India, making the business case for community forest rights

India’s Forest Rights Acts held the promise to change the lives of millions of forest dwellers. But the 10-year-old law has so far failed to limit land encroachment and evictions by public authorities and corporations. A new cross-sector initiative seeks to reverse the trend by making the business case for indigenous and community forest rights.

Q&A: How the private sector can take WHO recommendations on NCDs forward

Following the release of a report from WHO’s Independent High-level Commission on NCDs, Novartis Social Business’ Harald Nusser explains how the private sector can take some of its key recommendations forward.

How IFC is helping gender equality to gain momentum among Pacific businesses

With the help of IFC, the first company in Papua New Guinea has received a new certification focused on gender; and they are just getting started in building gender awareness and transforming the way the private sector works with women.

USAID's business forecast: Q3 of 2018

In our updated tableau interactive, view changes in trends from the first quarter of 2018. Here, we explain the key messages highlighted in the data, such as the continued and growing importance of small business partners.

What development knowledge do private contractors need to win contracts?

In May, Hall Contracting began work on a civil construction project in the remote island nation of Tokelau for the New Zealand Aid Programme. Devex speaks with Samantha Miezio, communications and marketing manager for Hall Contracting, on the knowledge and experience private contractors need to demonstrate.

How to combat NCDs? Take a sector-wide approach

Noncommunicable diseases are the leading cause of mortality worldwide, responsible for 70 percent of global deaths — 80 percent of which occur in low- and middle-income countries. While reducing NCDs is possible, it will require targeted and strategic action by many different stakeholders. Identifying the most impactful and strategic interventions, dividing tasks according to stakeholder expertise, communicating, and working collaboratively across sectors are key to success.

4 tips for engaging with Pledge 1% companies

The latest grant from Okta, which pledged 1 percent of its equity ahead of its initial public offering, is a reminder that technology companies have more to offer nonprofits than just money.

Will Africa's disaster risk financing see private sector boost?

Down the road, African nations could see disaster insurance premium relief in the form of private sector involvement, thanks to an unexpected interaction at the African Development Bank meetings in Busan, South Korea.

Questions raised over private sector accountability on safeguarding

As sexual misconduct allegations continue to plague the aid sector, the U.K.'s private sector contractors suggest they have been excluded from many of the conversations around safeguarding.

The energy sector is changing, but is ADB’s energy department?

Those present at the Asian Development Bank’s 51st Annual Meeting say the institution’s near 10-year-old energy policy no longer speaks to today’s energy requirements. But ADB is determined to be at the forefront, said Yongping Zhai, chief of the bank’s energy sector group.

Opinion: Public-private partnerships offer transformative positive change

World Bank Senior Director of Public Private Partnerships Laurence Carter addresses the promise of — and concerns over — the bank's PPPs.

Short-term private investment impacts sustainable development, UN report finds

Most private sector investment in developing countries is too short term to be relied on as a primary source of funding, especially for key infrastructure projects, according to a new United Nations report on financing for development. The report instead recommends a multifaceted approach to sustainable investment, including blended finance.

NGOs doing business with ADB: Opportunities and challenges

NGOs often have a general lack of awareness and information when it comes to Asian Development Bank processes and ways of working. Here's how to tap into the bank's vast pool of opportunities.