From resource scarcity to shifting consumption patterns to climate change, the global development community is dealing with a number of unprecedented challenges — and has come to a crucial realization.
“I think we all know that we can’t begin to solve or reverse or adjust to any of these [problems] without the private sector,” Elizabeth Littlefield, president and CEO of the U.S. Overseas Private Investment Corp., told Devex President and Editor-in-Chief Raj Kumar in this video interview on the sidelines of the Clinton Global Initiative’s annual meeting in New York. “And we also know the private sector is not going to do anything without a little help of the public sector.”
Now that the drive to work cooperatively is taking shape among various stakeholders, Littlefield noted that her organization’s work — which focuses on mobilizing private capital to help solve critical development challenges — is finally becoming “very relevant.”
But where exactly does OPIC fit in this shifting landscape? If you’re a Devex Executive Member, check out the full interview to learn more insights from Littlefield on the successful collaborations her agency is part of, notably in the context of U.S. President Barack Obama’s Power Africa initiative — of which OPIC is a pillar — and the types of partnerships and opportunities they are seeking to bring electricity to millions of people in sub-Saharan Africa.