Recognizing that the private sector is adopting an increasingly higher profile in global development efforts, European Union development ministers agreed Friday on an ambitious set of proposals to strengthen the role of the private sector in future EU-funded projects.
During their Development Council meeting in Brussels, the 28 ministers adopted an “action-oriented perspective” that lists various forms in which companies can contribute to development cooperation.
“The private sector is emerging as an increasingly active player in the development field,” the ministers noted in the document. “The council underlines in particular the need to strengthen the role of the private sector in implementing the future sustainable development goals.”