Increased private sector contributions must be front and center to global efforts on poverty reduction, U.K. Secretary of State for International Development Andrew Mitchell argues.
Mitchell says he would bring up the role of the private sector in curbing poverty as well as in driving innovations on health, food security, nutrition and investments at the World Economic Forum in Davos, Switzerland, which concluded Jan. 30.
“We … want to look beyond corporate social responsibility in multinationals. We want to unite the profit motive of the private sector with work that will bring opportunities for countries to develop and for people to be lifted out of poverty,” Mitchell writes in the “Poverty Matters” blog, which is published in the Guardian.
The U.K. Department for International Development officially opened its new private sector department early this month.
>> DfID’s Private Sector Department Officially Open
“I passionately believe that working with and harnessing the private sector in developing countries is crucial to creating the jobs and income opportunities that bring prosperity wealth to people living in poverty,” according to Mitchell.