By Ichiro Toda*
The global development community is increasingly aware of the benefits of collaborating with the private sector as an equal partner in promoting inclusive and sustainable development. In November 2011, the global development community, including the IDB, agreed to the Busan Principles for Development Effectiveness, which promotes enhanced country ownership, a focus on results, inclusive partnership, and transparency and mutual accountability in development work. Recognizing the central role of the private sector in advancing innovation, creating wealth, income and jobs, mobilizing domestic resources and in turn contributing to poverty reduction, the Busan final document encouraged efforts to:
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