IFIs deepen collaboration to support private sector role in development

| Print |
Over 20 International Financial Institutions, including BIO, pledged closer collaboration to support private sector development. To this end, they co-signed a Memorandum regarding “IFIs Harmonized Development Results Indicators for private sector investment operations”, during a meeting hosted by IFC, a member of the World Bank Group, in Washington this October 12th, 2013.

“Finding solutions to the deepest development challenges, particularly in fragile areas, is too great for one institution to tackle alone,” said Jin-Yong Cai, IFC’s EVP and CEO. “It will require innovation and partnership between the public and private sectors.”

This agreement will make it easier for private sector companies that receive investment from development institutions to provide development results data. Harmonization of key indicators will reduce the reporting burden on shared clients and facilitate knowledge transfer among development institutions.

Read the press release here.

Read the Memorandum here.