Private sector partnership opportunities
The Government of Canada will continue to collaborate with local, Canadian and international private sector partners to deploy the most appropriate resources, approaches and expertise in support of poverty alleviation. In pursuing this goal, the Government of Canada’s private sector and development approach pursues strong results in the general areas of investment, partnerships and innovation.
Investment for development
Challenge: Capital and expertise to grow businesses and address development needs is lacking.
Action: The Government of Canada supports market-oriented incentives for the private sector to target investments that achieve meaningful development impact. For example, Canada supports investment projects such as the Mennonite Economic Development Associates in Ethiopia which provides working capital and skills training for women entrepreneurs in the textile industry.
Partnerships for development
Challenge: Few international development projects effectively bring together public, private, and civil society entities to improve the lives of people living in poverty and to create shared value (i.e. projects that achieve both business and development objectives).
Action: The Government of Canada encourages multistakeholder partnerships with private sector and non-for-profit organizations that support projects and initiatives demonstrating clear benefits in the Government’s development thematic priority areas. These partnerships require private sector actors to share in the costs of delivering a particular project.
For example, the Government of Canada supports the Zinc Alliance for Child Health with Teck and the Micronutrient Initiative to develop and scale up zinc treatment programs to improve nutrition and help save children’s lives. The Government also supports the Building Collaboration for Sustainable Economic Growth in Peru project with World Vision Canada and Barrick Gold to leverage the economic impact of mining operations in Peru by increasing income and standard of living for families. This initiative also supports Canada’s Corporate Social Responsibility Strategy for the Canadian International Extractive Sector, which seeks to enhance the capacity of developing countries to manage the development of their natural resources to alleviate poverty.
Innovation for development
Challenge: In many developing countries, viable business models that make access to goods and services possible are lacking. The potential of the private sector to apply its ingenuity to approaches and technologies that can improve the delivery of essential public services is not being maximized.
Action: The Government of Canada supports innovations that generate game-changing solutions to international development challenges. This includes supporting innovative approaches, finance instruments, and technologies that encourage private sector actors to create products and services and enhance the delivery of public services in developing countries to improve the lives of people most in need. For example, Canada has a strategic partnership with Grand Challenges Canada to scale up promising innovations in the area of global health, many of which are generated by social entrepreneurs.
The Government of Canada also supports an innovative financing approach in partnership with the GAVI Alliance that brings the public and private sectors together to develop and deliver much-needed vaccines to treat pneumococcal disease—a leading cause of child deaths in developing countries.