September 17, 2014
The European Commission (EC) recently published its Communication on Private Sector Development (PSD) under the Agenda for Change framework, which sets out the EU Development Policy. This paper, circulated to the European Union’s consultative and legislative bodies, defines the role of PSD and framework for PSD programming in the next policy.
The Communication is the result of a participative review and analysis process involving EC stakeholders in Brussels and delegations from around the world. It advocates for a stronger role of the private sector in achieving inclusive and sustainable growth, one of two key focus areas of the Agenda for Change.
The Communication defines four pillars of future PSD support, including: a conducive business environment; support to formal and informal medium and small enterprises; women’s empowerment; and access to finance/financial inclusion. The EC’s strategy and ambition within these four areas are illustrated with examples of successful EC programmes. For access to finance/financial inclusion the EC highlighted the African, Caribbean, and Pacific–European Union Microfinance Programme (ACP/EU Microfinance), a programme managed from Brussels by DAI since March 2011.
“We are proud to be highlighted,” said Emmanuel Moyart, the Programme Team Leader. “This demonstrates the appropriateness of our programme design and the quality of our work. We have contributed to the European Commission’s increased focus on access to finance by proving its impact on sustainable development.”
Among other achievements, the ACP/EU Microfinance programme has contributed to providing access to new financial services to 600,000 Pacific Islanders, to delivering financial education training to 120,000 beneficiaries in Sub-Saharan Africa, and to setting up a successful Caribbean microfinance network.
Learn more about the ACP/EU Microfinance Programme.