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.