- Lead-organizer: African Development Bank (AFDB)
- 19:00 - 20:30
- Date: 21 Jun 2012
- Room: P3-E
PRIVATE SECTOR DIALOGUE IN THE CONTEXT OF GREEN ECONOMY
Organizing partnersLed by: Ivory Coast
Partners: African Development Bank
IntroductionThe private sector is getting increasingly aware of its role for long term growth that is green and inclusive for sustainable development. It is providing new ideas in the fight to end global poverty by partnering with traditional development players such as national aid agencies and NGOs, leveraging supply chains to create economic opportunity for the world?s poorest people, and incorporating social responsibility into their business practices. It is an important contributor to shape the green and inclusive growth agenda of Africa. Governments need to ensure a conducive investment climate to spur private sector engagement.
The objective of this side event is to bring together donors, private sector representatives, civil society and government officials to discuss their respective roles in helping enable a conducive environment for private sector development in the context of green growth and green development.
Detailed programmeA key challenge for governments is designing policies that effectively leverage private capital and know-how to deliver effective modalities and instruments to address green and inclusive growth and development at the scale and pace needed. In this context, the role of Public Finance Mechanisms (PFMs) cannot be overempha¬sized. Altering the risk-reward balance of private sector investment via public financial commitments in terms of grants, concessional finance, and risk mitigation instruments would enhance both the sup¬ply of private finance for major infrastructure and low-carbon projects and increase the demand for private finance in long term development solutions. To be effective in terms of allocation of resources of both public and private sector in an optimal way, the design of PFM should be based on an in-depth analysis that puts enough emphasis on crowding in and crowding out relationships between public and private investments in financing green growth agenda.
Enhancing participation from the private sector through public-private-partnership in the context of green economy is required for the technological innovations that will support a low-carbon growth path for Africa. Increased research and development programmes alongside academia are also required for African countries to transition to the green growth agenda by involving the private sector through an effective dialogue.
While Africa is on the move, continued growth requires investments in physical and human capital to sustain public and private investments. Africa?s private sector has the potential to be part of global value chains and benefit from the much needed technology through joint ventures and other forms of partnerships with other private sector actors from other parts of the world. The public sector, while creating the enabling environment for private sector activity, must see the private sector as a critical partner with which socio-economic development can be achieved.
Thematic Focus: The overall thematic focus of this side event is to establish a forum for dialogue on the opportunities and challenges related to private sector engagement in the sustainable development agenda in Africa, The specific objectives include :
(i) discuss the main constraints to private sector development in the region
(ii) discuss the reforms needed to enable small and medium-sized enterprises to flourish as growth engines;
(iii) enhance knowledge on how well to engage the private sector in Africa;
(iv) identify support for effective private sector engagement in the context of new and emerging challenges; and
(v) find opportunity to leverage the synergies in fostering regional markets and economic integration and private sector development..
Speakers: The following panelists will be invited :
i. Representative of the Ivorian government
ii. Director of the Private Sector Department, African Development Bank;
iii. Representative of International enterprise;
iv. Representative of African leading enterprises; and
v. Representative of major Private Sector companies.
The panellists may address key question that may include:
i. The roles of the private sector in the new emerging development paradigm?
ii. How can private sector improve working relationship with other development actors such as NGOs and CSO?
iii. What are the major impediments in Africa to date to involve the private sector for long term sustainable development agenda? And how can the emerging non- traditional African private sectors do to be engaged effectively?
iv. What role can be attributed to the private sector to operate the engine of growth in the new development paradigm of Africa?
v. How to stimulating additional private sector investments in low-income countries.
vi. What are the best options to accelerate the role of the private sector in the context of green and inclusive growth and development?
The event will be attended by target audience and participants including:
i. High-level decision makers from African member states and their RECs, regional and sub-regional organizations, multilateral organizations, and bilateral organizations representatives;
ii. Private sector including small and large scale enterprises, community based organizations, media;
iii. Science and technology specialists actively engaged in advancing knowledge on sustainable development in developing countries.
Potential contribution to the outcome of Rio+20: The primary outcome will be to raise awareness, increase knowledge and initiate dialogue on private sector engagement in the context of green growth and economy development in Africa. Specifically, the event will result into the following outcomes that will contribute to shaping the Rio+20 outcome:
? Strategic alliances and partnerships to further address African private sector engagement in the context of sustainable development strengthened;
? Way to foster private sector engagement to promote growth and sustainable economic development established
? Knowledge on the status of public-private-sector activities for sustainable development in Africa Enhanced;
? Better informed African decision makers and practitioners on the necessity of involving private sector in the new development paradigm.
Simultaneous interpretation in English and French will be required. The event room should therefore be equipped with interpretation booth and the relevant equipment.