Private sector
Virtually all developing countries, donors and multilateral financial institutions recognise the important role played there by the private sector, and its significance was again underscored at the Doha follow-up conference on the funding of development held at the end of 2008.
This broad consensus stems from a relatively straightforward line of reasoning, namely that stimulating the private sector in developing countries generates economic growth there. And economic growth is, in turn, an important pillar in the quest for sustainable development and the fight against poverty.
Belgium supports various activities in this domain:
- In recent years the funding provided by the Belgian Investment Company for Developing Countries (BIO) has risen sharply;
- a dedicated budget line has been established, geared towards boosting companies’ capacity in developing countries;
- the Trade for Development Centre was founded in 2009, replacing the former Fair Trade Centre;
- the Belgian platform Enterprise for Development was set up in 2008.
In addition, DGD funds activities designed to support the private sector in developing countries through government organisations, NGOs and multilateral cooperation.
Belgian Investment Company for Developing Countries (BIO)