Private sector redoubles MDG efforts

Article by Devex, appearing in

“Not only governments are fully committed to meeting the Millennium Development Goals — the private sector also wants to step up to the challenge.

World leaders on Wednesday agreed on how to kick off the debate on the post-2015 framework through a common set of goals for both rich and poor nations. The outcome document that will set the agenda for the next two years envisions a multi-stakeholder approach that includes the private sector and philanthropy to boost total investment in achieving the MDGs to $2.5 billion.

The document adopted at a special event during the 68th session of the U.N. General Assembly calls for “a strengthened global partnership” that will draw from all resource pools, public and private, and specifically calls on firms “to engage in responsible business practices” for sustainable development.

Private sector development has long been considered a key driver for achieving the MDGs, with the EU in particular keen to provide support to reduce barriers to doing business, build capacities and improve the business environment in developing countries.”

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