In 1960, public capital accounted for 71 percent of financial flows to the developing world. Today it stands at just 9 percent. With U.S. foreign aid comprising its smallest share of global capital flows in history, the private sector has become an increasingly vital force in development*.
Earlier this year, the Executive Council on Development for the Center for Strategic and International Studies (CSIS), explored this moment of opportunity for private sector development in a report titled, “Our Shared Opportunity: A Vision for Global Prosperity.”
The report was a result of a convening of the Executive Council– a bipartisan group of leaders from government, business, nongovernmental organizations, and philanthropy– to explore how the U.S. government and private sector can work together to support the economic success of developing countries. In the report, the Council calls for a greater reliance on business, trade, and investment tools to achieve better development outcomes.
Over the next several weeks, we will be highlighting some of the most powerful messages from the report in the form of e-cards here on our blog and through our social media channels. Please join us in this conversation by utilizing the hashtag #SharedOpp.
*CSIS 2013 report: “Our Shared Opportunity: A Vision for Global Prosperity”