The development community has been talking about shifting from aid to investment for years, but a senior pharmaceutical executive argued that there's a critical piece missing from the conversation — and it may not be what most people think.
Speaking at the Fourth International Conference on Financing for Development, or FfD4, in Sevilla, Spain, Priya Agrawal, vice president for health equity and partnerships at MSD, challenged global development’s fundamental assumptions about what needs financing.
The secret isn't transferring technology or setting up factories, she said. It’s making sure there’s a market for what those factories produce. This kind of “demand creation” often involves public procurement or donor programs that commit to purchasing from local manufacturers. Her company’s work in Indonesia, she said, proves this can create jobs quickly and open the door to long-term market growth.
About the author
Hayley Mundeva
Hayley Mundeva is the Communications Lead at Devex, where she handles executive communications, podcast production, and other signature content. Born in Nepal and based in Rwanda, she brings communications consulting experience spanning private businesses, nonprofits, and international organizations in East Africa, Southeast Asia, and North America. She holds a master's degree in global health.
