The Role of Business in Development: How Private Investment Can Catalyze Economic Growth and Reduce Poverty

On May 3, Global Economy and Development at Brookings and the Initiative for Global Development hosted a discussion on the critical role of business in catalyzing economic growth and reducing poverty. While the Obama administration reviews U.S. global development efforts and Congress seeks to improve development assistance, this event focused on the need for greater coordination of U.S. aid, trade and investment programs, and how to effectively work across sectors. How can U.S. development programs best build capacity, unlock capital, supply infrastructure and create an environment for market-led growth; how can companies most effectively contribute to the growth of local enterprises and local employment through their supply chains and investments; and what are the specific opportunities and challenges of increasing investment across Africa?

NOTE: The audio for this event is truncated at the very beginning, due to technical difficulties.

Daniel Yohannes, Millennium Challenge Corporation CEO, provided opening remarks, followed by a discussion among CEOs from the United States and Africa. Kemal Derviş, vice president and director of Global Economy and Development, moderated the discussion.