With the adoption of the Sustainable Development Goals to end poverty and the Paris Agreement on climate change, there is appetite for greater collaboration between the World Bank and the private sector, as companies have become more aware that they have an important role to play in shaping the broader development agenda and they also more engaged on issues, such as sustainability and climate change, that are affecting their business.
Opportunities abound for partnerships and initiatives that are of mutual interest and that can advance development priorities. Companies want access to shape country policies and standards; the Bank’s information and data can help them navigate challenging environments; and they are interested in partnerships where they can share their expertise and collaborate on development solutions.
Strategic Direction and Business Lines
The Private Sector Program’s strategic purpose is to expand global engagement with the private sector. This is achieved through the following four business lines:
- Partnerships: Expand and diversify our engagement with key influencers and forge new partnerships with a broader cross-section of the private sector, including developing country and women CEOs.
- Advocacy: Advocate, raise awareness and help mobilize support for the WBG’s development priorities.
- Convening: Convene events to deepen engagement with the private sector or ensure the WBG is represented at key private sector fora.
- Operational impact: Provide guidance and support to operations on private sector engagement.