DFID Calls for Private Sector-Led Development Amid Crisis

The U.K. Department for International Development is calling on the private sector to help drive economic growth by generating employment opportunities amid the global financial slowdown. "The 90 million people who face extreme poverty because of the global slowdown need the opportunities that business provides," Parliamentary Under Secretary of State Mike Foster said during the launch of DFID's new private sector development strategy. He added: "Supporting development is - and must be - a core part of what businesses do, not an altruistic add-on." The new strategy stressed the significance of access, competition and engagement in making businesses drivers of development, according to a

release.

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