New multi-stakeholder approaches to foster industrialization

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UN File Photo/G. Frayne.

Supporting public policies that attract investment and encourage job creation was the focus of an event on Tuesday at the global conference on financing for development in Addis Ababa, Ethiopia.

Organized by the United Nations Industrial Development Organization (UNIDO), it looked at ways of aligning private finance with the industrial strategies of governments

Dianne Penn reports.

The UNIDO event was held on the sidelines of the Third International Conference on Financing for Development which is now in its second day.

Speaking at the event, UN Secretary-General Ban Ki-moon recalled that industrialization is part of one of the new goals of the global sustainable development agenda.

“When people think of industry, they think of pollution or bad labour practices. But when countries industrialize in an inclusive and sustainable way, they can create decent jobs and preserve their resources without exploiting the environment or people."

Mr Ban applauded UNIDO, the United Nations Industrial Development Organization, for establishing a new funding strategy called Programme for Country Partnership.

Senegal and Ethiopia have been the two pilot countries of this new approach which draws together development agencies, financial institutions, the private sector, academia and civil society, whose efforts are pooled into collective action.

Dianne Penn, United Nations.

Duration: 1’08″

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