30 September 2016

Funds for the promotion of the business community's framework conditions in developing countries

This news is redirected by The Secretariat for Development Cooperation at SCIENCE from the Ministry of Foreign Affairs of Denmark.

This news has been translated by the Secretariat for Development Cooperation of Science and therefore might differ from the original article in Danish.

The Danish government launches funds with the aim of strengthening the framework conditions for sustainable development of the private sector in developing countries. Danish trade organizations can contribute to promote this development, and the funds will inter alia be given as grants for the partnership between Danish trade organizations and organizations in developing countries.

The private sector is a central driver in reaching the Sustainable Development Goals in developing countries. Today the private sector is responsible for about 90% of all jobs in the developing countries and is, hence, important in the combat against poverty. Private actors, including international and local businesses, investors and financial institutions, philantropic foundations, labour and business organizations are becoming increasingly relevant as development actors.

A well-functioning business environment is key in securing the developing countries the necessary private investments and in developing the local business community. A well-functioning business environment and a responsible private sector can contribute to promoting democratic processes - and vice versa, which amongst other things contributes to transparency in governance, anti-corruption and improved tax collection, and thereby finance the development of the partner countries. At the same time it is in the interest of Denmark that international markets raise their standards for environment, human rights, working conditions etc., because it improves Danish businesses competitive power on the markets in question. Danish business organizations are relevant partners in the development cooperation, and they can - with their knowledge - contribute to the creation of favourable settings in order to make the private sector increasing its contribution to the Sustainable Development Goals in developing countries and globally.

7 million Danish kroner have been set aside in the finance act in 2016 for partnerships between Danish business organizations and cooperation organizations in Denmarks priority countries and in countries where Denmark has established a collaboration in the Authority Cooperation.

Deadline

Monday, 28th November 2016, 12:00.

Briefing meeting

A briefing meeting will be held Thursday 6th October, 2016 at 13:00 in the Ministry of Foreign Affairs' meeting rooms at Asiatisk Plads 2, 1448 København K. Register at vbe@um.dk.

Read more about this initiative here.