Global development is more collaborative and it is clear in this new era ushered in by the adoption of the Sustainable Development Goals that the private sector will play a key part in the implementation of this new agenda.
While the private sector has played an increasingly significant role in development in recent years — notably through cofinancing and philanthropic efforts — there is now an emerging belief that inclusive business practices will continue to rise to prominence as a vehicle to drive private sector engagement in development.
Indeed, discussions in donor circles around the promotion of inclusive businesses, defined by the International Finance Corp. as “commercially viable and replicable business models that include low-income consumers, retailers, suppliers, or distributors in core operations,” continue to gain traction.
About the author
Lean Alfred Santos@DevexLeanAS
Lean Alfred Santos is a former Devex development reporter focusing on the development community in Asia-Pacific, including major players such as the Asian Development Bank and the Asian Infrastructure Investment Bank. He previously covered Philippine and international business and economic news, sports and politics.
