The role of the private sector in global development has much been a hot topic for discussion as the third International Financing for Development Conference in Addis Ababa, Ethiopia, approaches.
While official development assistance will remain a “centerstone” of development financing, Klaus Rudischhauser, deputy director-general at EuropeAid, thinks other flows — including trade, the private sector and leveraged finance — are even more important and should not be overlooked.
“We will, in fact, in Addis put on the table a 10-point paper on the EU contribution to financing for development,” Rudischhauser said in an interview with Devex Impact’s Associate Editor Adva Saldinger, adding that trade can be a “locomotive” for development.
Watch the video to get the inside track on how the European Commission currently helps least developed countries through trade and private sector initiatives.
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