Most developing countries, donors and multilateral financial institutions recognise the major role of the private sector in developing countries. The importance of support to private sector development was confirmed in late 2011 especially through the adoption of the Agenda for Change of the European Union and the Busan Partnership Agreement.
The Private Sector Development service was therefore created in 2018 to support MSMEs in developing countries as a means of fighting poverty and reducing inequality. It also aims a strong economic structure, based on enterprises with access to financing, markets, technical and management support, and operating in an appropriate environment for the creation of sustainable employment.
The Private Sector Development service monitors specific instruments and programmes promoting the development of the private sector, such as: BIO-INVEST, the Trade for Development Centre housed within Enabel, the Belgian development agency, the Business Partnership Facility, and the Belgian initiative for sustainable chocolate “Beyond Chocolate”...
Digital for Development (D4D), as a tool closely linked to the private sector, also belongs to the themes monitored by D2.4. In particular, this includes Enabel “WeHubIt” projects and the Belgian D4D platform: Kindling.