The private sector drives the economic growth that has largely accounted for the rapid reduction in poverty in developing countries over recent years. Business creates jobs and wealth, and contributes most of the investment, innovation and technological progress that underpins economic growth. Business has a growing interest in its development impact for many reasons, not least increased pressure from consumers and investors.

At the same time, the role of the private sector in development is now being recognized by the donor community, who are now keen to leverage business activity to maximize development impact in the face of dwindling aid budgets and a sharper focus on demonstrable impact. Both parties are now seeking to identify new and fruitful ways to collaborate, and this has the potential to deliver significantly greater development impact than either can achieve alone.