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    • #EDD15

    How the EU plans to get the private sector to 'play by the rules' of development

    We need the private sector to finance the SDGs. But will the quest for profit trump the objective of poverty eradication? In an interview with Devex on the eve of #EDD15, European Commissioner for International Cooperation and Development Neven Mimica explained the EU’s new strategy to align both goals.

    By Richard Jones // 04 June 2015

    As the European Union continues its push for enhanced private sector involvement in its development work, many wonder whether businesses will agree to sacrifice part of their profit in order to meet development goals, or even just align themselves with EU aid objectives in partner countries.

    EU Commissioner for International Cooperation and Development Neven Mimica certainly understands these concerns. In an interview on the eve of this week’s European Development Days, he stressed to Devex that involving the private sector is “crucial” to meeting the sustainable development goals, given “scarce” public resources that are “insufficient to finance all the investments needed in developing countries.”

    The collective resources of the private sector are “far bigger” than the development budgets of even larger donors like the EU and its member states, the commissioner emphasized.

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    About the author

    • Richard Jones

      Richard Jones@richard_devex

      In his role as Editorial Director Richard oversees content for digital series, reports and events, leading a talented team of writers and editors, conducting high-level video interviews and moderating panels at events. Previously partnerships editor and an associate editor at Devex, Richard brings to bear 15 years of experience as an editor in institutional communications, public affairs and international development. Based in Barcelona, his development experience includes stints in the Dominican Republic, Argentina and Ecuador, as well as extensive work travel in Africa and Asia.

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