40 years of actions that now span 80 countries, with the aim of supporting private-sector businesses in projects that promote economic growth, spur local development, and fuel the transition to a low-carbon world that is more equitable and sustainable.
40 years of projects proving that the private sector can make a major contribution to sustainable development.
The private sector is the leading creator of jobs and economic growth. Businesses account for 90% of jobs in the developing world, and are behind many of the innovative systems that improve access to electricity, healthcare, and education. They are often the main driver of technological progress in the Southern Hemisphere, thus helping to catalyze sustainable development. And through the taxes they pay, they provide necessary funds to governments for implementing development-oriented public policies.
For the past 40 years, Proparco has been supporting responsible businesses ranging from local entrepreneurs all the way to regional banks. We have been carefully attuned to their changing needs over the past four decades, adapting our financing and operating methods accordingly. Our goal has consistently been to support businesses’ growth and expansion when local markets are unable to.
Looking ahead, an ambitious roadmap awaits with the implementation of the Sustainable Development Goals, the Addis Ababa Action Agenda for financing development, and the Paris Climate Agreement. These international objectives not only open new horizons, but they also require us to step up our efforts to encourage businesses to work with us. At the request of the French President, we have committed to more than doubling our financial commitments and tripling the impact of our actions for creating jobs, fostering innovation and climate awareness, and promoting access to essential services, all by 2020.
Today many businesses strive to innovate, create decent jobs, adopt best-in-class environmental and social standards, invent new, responsible business models, and lay the foundations of an economy serving a global community. And those businesses are increasing in number. At Proparco, we intend to offer growing support to such businesses by providing financing solutions and expertise, as well as by drawing on third-party resources to amplify the impact of our work. AFD can call on businesses in advanced economies – especially French companies and investors – that are increasingly interested in markets and consumers in the developing world and that intend to fully contribute to their partners’ development.