The Business Partnerships Platform is the latest foray of Australia’s aid program into promoting private sector engagement in development. The program offers to match funds from businesses for projects that are both commercially viable and socially impactful.
If the results of the first funding round are anything to go by, there is a high demand for this strategic funding amongst the development sector. A total of 184 projects were submitted seeking joint funding, with 10 projects receiving a total of 3.8 million Australian dollars ($2.9 million).
Geographically and thematically, funded projects cover diverse regions and development matters, from banking for the poor to sugar supply chain improvements to child nutrition. And with BPP funding open to Australian, multinational and local organizations, a range of expertise and new ideas were brought to the table for the implementation of Australia’s new aid strategy.
“The partnerships selected in Round 1 are all examples of non-traditional partners coming together to solve development problems in new and innovative ways,” the Department of Foreign Affairs and Trade explained to Devex.
Lisa Cornish is a freelance data journalist based in Canberra, Australia. Lisa formerly worked with News Corp Australia as a data journalist for the national network and was published throughout Australia in major metropolitan and regional newspapers, including the Daily Telegraph in Melbourne, Herald Sun in Melbourne, Courier-Mail in Brisbane and online through news.com.au. Lisa has recently been awarded the 2014 Journalist of the Year by the New South Wales Institute of Surveyors.
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