Growing Sustainable Business
The purpose of this 15 month project is to implement the Growing Sustainable Business (GSB) initiative in Albania, Bosnia and Herzegovina, FYR Macedonia and Moldova. A UNDP initiative that has proven highly successful in other world regions, the GSB seeks to broker public-private partnerships that enable the private sector to engage in specific pro-poor investment projects that are both, commercially attractive and address local development needs. By focussing on specific investment opportunities, this project will complement the efforts of other donor funded projects to improve the business and investment environment in the Western Balkans region.
The initiative implements the recommendations of the UN Commission of the Private Sector and Development , recognizing the critical contribution of the private sector, large and small, foreign and domestic, to poverty reduction. A core finding of the Commission is that the value of engaging the private sector is maximized where it is grounded in market-based incentives. Sustainable social impact is greatest when there is a convergence of commercial and development interests.
The overall goal of the project is to broker and facilitate linkages between large businesses, potential investors and local partners, to strengthen and expand the local MSME sector and facilitate the development of new products and services which address the needs of the poor. 'Leading investors' will be approached individually and, jointly with networks of local partners to discuss and find innovative and efficient solutions to investment projects that align financial viability and promote equitable local economic development. UNDP will play the role of a broker and facilitator, linking large companies, local entrepreneurs, government representatives, civil society organizations and other donors. The multi-stakeholder nature of the initiative will reduce the risks and transaction costs of specific investment projects.