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.
About the author
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.
