USAID Highlights Public Private Alliance Successes in Reducing Poverty and Increasing Development in Africa
FOR IMMEDIATE RELEASE
October 19, 2007
Press Office: 202-712-4320
Public Information: 202-712-4810
www.usaid.gov
WASHINGTON, D.C. - HENRIETTA H. FORE, ACTING ADMINISTRATOR OF THE U.S. Agency for International Development (USAID) hosted a presentation entitled "Empowering Women - Promoting Growth" today, highlighting the agency's commitment to public-private alliances in the advancement of African social and economic development. This event was attended by a number of senior government, business and non-governmental organization leaders.
The principle objective of this event was to draw attention to USAID's successful alliances with the private sector to reduce poverty and promote economic development in Africa.
Acting Administrator Fore emphasized the importance of development for Africa and stated, "It is my belief that public-private partnerships can play an important role in improving the business skills of African entrepreneurs, forging improvement in the enabling environment, demonstrating the financial viability of small and medium-size enterprises to private investors and increasing private sector investment."
In 1970, 70 percent of resources going form the U.S. to the developing world came from the public sector and the remaining from the private sector. Today, 85 percent of the resources come from the private sector and only 15 percent come from the public sector. Since 2001, USAID has created over 600 alliances with more than 1,700 partners and used $2.1 billion to leverage $5.8 billion for these alliances, thus becoming the world leader in developing new models for public-private alliances.
The public-private alliance draws from the comparative advantages of each entity to create a working business model for guiding programs, strategies and activities.
As an example, the Initiative to End Hunger in Africa helped to create over 900 public-private alliances at the local level in Africa in 2006. This initiative assisted over 78,000 African small and medium enterprises improve access to business development services and finance.
"Our message to you today is that investing in the African entrepreneur is not only a profitable endeavor for the investor, but that private investment in Africa is the only long-term, sustainable way to reduce poverty and achieve meaningful economic growth and stability," said Acting Administrator Fore.
For more information about USAID, please visit: www.usaid.gov.
The American people, through the U.S. Agency for International Development, have provided economic and humanitarian assistance worldwide for nearly 50 years.
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