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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Jacques is a copy editor at Devex’s news production team. Previously, he worked with the Philippine Department of Tourism and the World Wide Fund for Nature. He is currently taking his master’s degree in communication from the University of the Philippines Diliman.
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