2009-10-28

New Nordic report: The growing role of Development Finance Institutions

Foreword by Jan Rixen, General Manager
Association of European Development Finance Institutions (EDFI)

The private sector plays a key role in spurring economic development. This role has long been recognized in the developed economies and is also given an increasingly prominent priority in international development policy. The recent Africa Commission’s Copenhagen Statement highlighted the creation of jobs, particularly for young people, as the top priority for development. This signals a renewed interest in private sector approaches to development that has been emerging for some years now.

The colleagues who work in development finance institutions (DFIs) recognize that economic and social development is a long-term undertaking. There is not one single approach that will ensure the development of the business environment in developing countries.

Public policy interventions will also always play an important role alongside private sector investment. Today, there is a need for intense examination of the optimal mix of policies and for debate about how we can best stimulate private sector growth, particularly at a time of financial crisis.

This report, written by the advisory group Dalberg Global Development Advisors, offers a contribution to this debate. It presents in a clear and straight-forward way the rationale for private sector investments in international development policy. It also conveys important data about the roles and impacts of the DFIs and links it to the broader debate about global development goals.

The Association of European Development Finance Institutions (EDFI) welcomes the contribution of this report to the debate about the role of DFIs in international development policy. I hope the report will help spark the interest of the public and policy-makers in this important topic.

Jan Rixen,
General Manager
Association of European Development Finance Institutions (EDFI)

For more information:  Maria Lannér, Director, Communication, +46 8 725 94 17